WALTHAM, Mass., April 6, 2020 /PRNewswire/ -- Thermo Fisher
Scientific Inc. (NYSE: TMO), the world leader in serving science,
today announced that, due to the evolving COVID-19 pandemic and
related customer impact, it is withdrawing 2020 annual guidance,
which was provided on January 30,
2020.
Thermo Fisher has mobilized to
support the global COVID-19 response with products and services
that help analyze, diagnose and protect from the virus. However, as
the pandemic spread from China to
countries worldwide, the company saw a significant reduction in
customer activity by late March. Given the ongoing uncertainty of
the scope, duration and impact of the pandemic, Thermo Fisher is currently unable to reasonably
estimate its annual financial performance.
The company believes its long-term prospects remain excellent
given the attractive markets served, its industry-leading position
and proven growth strategy. The pandemic is also likely to result
in additional funding opportunities for its customers in the
future. During this unprecedented time, Thermo Fisher's Mission – to enable its
customers to make the world healthier, cleaner and safer – has
never been more important.
For the first quarter ended March 28,
2020, Thermo Fisher estimates
that both reported and organic revenue growth1 will be
in the range of 1 to 2%. Details will be provided on the company's
earnings conference call.
Thermo Fisher will release its
financial results for the first quarter of 2020 on Wednesday, April 22, 2020, before the market
opens, and will hold a conference call to discuss those results and
the current impact from the COVID-19 pandemic on the same day at
8:30 a.m. ET.
To listen, call (877) 273-7122 within the U.S. or (647) 689-5496
outside the U.S. You may also listen to the call live on the
"Investors" section of our website, www.thermofisher.com. The
earnings press release and related information can be found in that
section of our website under "Financial Results." A replay of the
call will be available under "Webcasts and Presentations" through
Friday May 8, 2020.
About Thermo Fisher Scientific
Thermo Fisher
Scientific Inc. is the world leader in serving science, with annual
revenue exceeding $25 billion. Our
Mission is to enable our customers to make the world healthier,
cleaner and safer. Whether our customers are accelerating life
sciences research, solving complex analytical challenges, improving
patient diagnostics and therapies or increasing productivity in
their laboratories, we are here to support them. Our global team of
more than 75,000 colleagues delivers an unrivaled combination of
innovative technologies, purchasing convenience and pharmaceutical
services through our industry-leading brands, including Thermo
Scientific, Applied Biosystems, Invitrogen, Fisher Scientific,
Unity Lab Services and Patheon. For more information, please visit
www.thermofisher.com.
Forward-Looking Statements
The following constitutes a
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements that involve a number of risks and uncertainties,
including statements about expected revenue growth and long-term
impacts of the COVID-19 pandemic. Important factors that could
cause actual results to differ materially from those indicated by
forward-looking statements include risks and uncertainties relating
to: the duration and severity of the COVID-19 pandemic; the need to
develop new products and adapt to significant technological change;
implementation of strategies for improving growth; general economic
conditions and related uncertainties; dependence on customers'
capital spending policies and government funding policies; the
effect of economic and political conditions and exchange rate
fluctuations on international operations; use and protection of
intellectual property; the effect of changes in governmental
regulations; and the effect of laws and regulations governing
government contracts, as well as the possibility that expected
benefits related to recent or pending acquisitions, including our
pending acquisition of QIAGEN N.V., may not materialize as
expected. Additional important factors that could cause actual
results to differ materially from those indicated by such
forward-looking statements are set forth in our Annual Report on
Form 10-K for the year ended December 31,
2019 and our Current Report on Form 8-K filed on
March 23, 2020, which are on
file with the SEC and available in the "Investors"
section of our website under the heading "SEC Filings." While we
may elect to update forward-looking statements at some point in the
future, we specifically disclaim any obligation to do so, even if
estimates change and, therefore, you should not rely on these
forward-looking statements as representing our views as of any date
subsequent to today.
Media Contact Information:
Karen Kirkwood
Phone: 781-622-1306
E-mail: karen.kirkwood@thermofisher.com
Investor Contact Information:
Ken Apicerno
Phone: 781-622-1294
E-mail: ken.apicerno@thermofisher.com
1Organic revenue is reported revenue excluding the
impact of acquisitions and divestitures and foreign currency
translation.
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SOURCE Thermo Fisher Scientific