July 23, 2014 / 10:07 AM / 4 years ago

Thermo Fisher profit tops Street with Life Tech contribution

July 23 (Reuters) - Thermo Fisher Scientific Inc, the world’s largest maker of scientific instruments, reported a higher-than-expected second-quarter profit in its first full quarterly results to include its acquisition of genetic testing company Life Technologies Corp.

The company also raised the mid-point of the range of its forecast for full-year earnings.

Excluding one time items, Thermo Fisher had second-quarter adjusted earnings of $1.72 per share. Analysts on average expected $1.62 per share, according to Thomson Reuters I/B/E/S.

Thermo posted a net profit of $278.5 million, or 69 cents per share, compared with a profit of $277.4 million, or 76 cents per share, a year earlier.

The net results were impacted by acquisition-related charges in 2014, the company said on Wednesday.

Revenue for the quarter rose 33 percent to $4.32 billion, exceeding Wall Street’s average estimate of $4.25 billion.

The company said it now expected full-year adjusted earnings of $6.85 to $6.97 per share. It had previously forecast earnings of $6.80 to $6.95 per share.

Thermo also tightened its 2014 revenue forecast range, saying it now expected sales of $16.86 billion-$16.98 billion, compared with its prior view of $6.84 billion-$17.00 billion.

Analysts, on average, expect revenue of $16.94 billion.

Integration of Life Tech was going well “with synergies tracking ahead of plan,” Thermo Fisher Chief Executive Marc Caspar said in a statement. (Reporting by Bill Berkrot; Editing by Ted Kerr)

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