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Thermo Fisher 1Q Net Rose 10%; Boosts Year View

DOW JONES NEWSWIRES Thermo Fisher Scientific Inc.'s (TMO) first-quarter earnings rose 10% as the supplier of analytical technologies and laboratory products saw increased revenue from all segments, though margins slipped on higher costs. Results topped expectations, and the company also raised its full-year earnings estimate to $4.71 to $4.83 a share on revenue of $12.27 billion to $12.43 billion from its February forecast of $4.67 to $4.82 a share on revenue between $12.15 billion to $12.35 billion. Thermo Fisher's sales have improved in recent quarters, aided by acquisitions and its expansion into Asia-Pacific markets. The company also launched new products last year to expand its mass spectrometry, specialty diagnostics and laboratory equipment lineup. But higher research and development costs, on top of restructuring and acquisition charges, have challenged its bottom line of late. Last month, Standard & Poor's Ratings Services lowered its outlook on Thermo Fisher to negative, citing uncertainty about the company's willingness to reduce debt after Thermo Fisher initiated a quarterly dividend. Thermo Fisher reported a profit of $277.3 million, or 75 cents a share, up from $252.2 million, or 63 cents, a year earlier. Excluding items such as asset amortization, restructuring and acquisition-related costs, earnings rose to $1.17 from 92 cents. Revenue jumped 14% to $3.1 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of $1.11 on revenue of $2.98 billion. Operating margin dipped to 11.4% from 11.8% on higher costs. The laboratory products and services segment--the company's largest top-line contributor--saw a 4.5% revenue increase while its operating profit rose 1.2%. The analytical technologies segment's revenue jumped 21% and earnings grew 35%. Specialty diagnostics segment revenue increased 27%, while its income was up 31%. Shares closed Tuesday at $52.74 and were inactive premarket. The stock is up 17% so far this year. --By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Thermo Electron (TMO)
DateTimeHeadline
09/23/201616:25:16Current Report Filing (8-k)
09/20/201618:15:00The Cooper Companies Set to Join the S&P 500; Northwestern and...
09/19/201620:01:00Thermo Fisher Scientific Completes Acquisition of FEI Company
09/19/201616:17:11Current Report Filing (8-k)
09/15/201616:10:15Current Report Filing (8-k)
09/15/201616:02:55Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
09/14/201617:20:30Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/14/201616:57:00Thermo Fisher Scientific Prices Offering of Senior Notes
09/14/201608:53:34Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
09/12/201606:42:00Securities Registration (section 12(b)) (8-a12b)
09/12/201606:27:34Current Report Filing (8-k)
09/08/201616:19:09Current Report Filing (8-k)
09/08/201616:12:40Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
09/07/201621:24:00Thermo Fisher Scientific Prices Offering of Euro-Denominated...
09/07/201616:13:38Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/07/201616:11:51Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
09/07/201606:15:11Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
09/06/201616:54:06Statement of Changes in Beneficial Ownership (4)
09/06/201608:30:00Thermo Fisher Scientific to Present at the Morgan Stanley Global...
09/02/201617:33:33Statement of Changes in Beneficial Ownership (4)

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