Thermo Fisher posts 52 pct increase in net income

Tag : Scientific Instruments

WALTHAM, Mass. -
Laboratory equipment and supply maker Thermo Fisher Scientific Inc. said Thursday its profit rose 52 percent in the secondquarter on strong demand for scientific instruments and solidperformance in Asia.

Net income totaled $249.5 million, or 57 cents per share, onrevenue of $2.71 billion. That compares with net income of $163.9million, or 37 cents per share, on revenue of $2.39 billion in thesame period last year.

Excluding one-time items, Thermo Fisher's adjusted earnings totaled79 cents per share.

Analysts polled by Thomson Financial expected earnings per share of77 cents on revenue of $2.62 billion. Analyst estimates typicallyexclude one-time items.
Sales rose in both Thermo Fisher's analytical technologies andlaboratory products and services business lines. The company alsosaid its results were boosted by its strong performance in Asia.

Thermo Fisher increased the low end of its earnings outlook for2008 to a range of $3.11 to $3.17, compared with $3.07 to $3.17previously. The company maintained its annual revenue forecast of$10.6 to $10.7 billion

Analysts, on average, expect full-year earnings of $3.16 per share,with sales of $10.66 billion.
Shares of the company fell $1.33, or 2.3 percent, to $57.45 inmorning trading.

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