Reuters logo
Thermo Fisher profit tops Street with Life Tech contribution
July 23, 2014 / 10:08 AM / 3 years ago

Thermo Fisher profit tops Street with Life Tech contribution

(Reuters) - Thermo Fisher Scientific Inc (TMO.N), 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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below