Thermo Fisher 4Q Net Falls 2.9% On Charges; Revenue Beats Street Views

Date : 02/01/2012 @ 7:18AM
Source : Dow Jones News
Stock : Thermo Fisher Scientific (TMO)
Quote : 165.33  -1.37 (-0.82%) @ 4:03PM

Thermo Fisher 4Q Net Falls 2.9% On Charges; Revenue Beats Street Views

Thermo Electron (NYSE:TMO)
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Thermo Fisher Scientific Inc.'s (TMO) fourth-quarter earnings fell 2.9% as several charges masked the analytical technologies and laboratory products supplier's better-than-expected revenue.

The company also forecast full-year earnings of $4.67 to $4.82 a share on revenue between $12.15 billion to $12.35 billion, while analysts surveyed by Thomson Reuters expect $4.72 on $12.56 billion.

Thermo Fisher's sales and profit have improved in recent quarters, aided by acquisitions and its expansion into Asia-Pacific markets. But it began to see more challenging conditions in the academic and government markets late in the third quarter.

Thermo Fisher reported a profit of $288.9 million, down from $297.5 million a year earlier. On a per share basis, earnings rose to 77 cents from 75 cents on fewer shares outstanding in the most recent period. Excluding items such as amortization, restructuring and aquisition-related costs, earnings rose to $1.18 from 96 cents. Revenue jumped 15% to $3.13 billion.

Analysts polled by Thomson Reuters had most recently forecast earnings of $1.15 on revenue of $3.08 billion.

Operating margin fell to 10.9% from 11.8%.

The laboratory products and services segment--the company's largest top-line contributor--saw a 5% revenue increase while its operating profit fell 4%. The analytical technologies segment's revenue jumped 23% and earnings grew 38%. Specialty diagnostics segment revenue increased 32%, while its income was up 42%.

Shares closed Tuesday at $52.90 and were inactive premarket. The stock has risen 18% so far this year.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com




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