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; email@example.com