Thermo Fisher Profit, Revenue Climb on Emerging Markets
January 28 2016 - 6:56AM
Dow Jones News
By Joshua Jamerson
Medical equipment supplier Thermo Fisher Scientific Inc.
reported slightly better-than-expected earnings during its latest
quarter, as revenue rose in several of its geographic markets,
including China.
The company's results were also boosted by its June acquisition
of U.K-based Alfa Aesar, a research chemicals maker.
Thermo Fisher, which provides medical equipment and tools that
help diagnose diseases and run clinical trials to pharmaceutical
companies, hospitals, and research centers, operates foreign
subsidiaries and has been seen a stronger dollar pressure revenue.
In the quarter ended Dec. 31, currency effects shaved 4% off its
top line.
The company in recent years has expanded its presence in
Southeast Asia, India and South Korea.
Overall, Thermo Fisher reported a net profit of $602.6 million,
or $1.50 a share, compared with $601.2 million, or $1.49 a share,
in the year-ago period. Excluding items, per-share earnings grew to
$2.12 from $1.99 a year ago.
Revenue grew by 4% to $4.65 billion. Analysts polled by Thomson
Reuters expected $2.11 in per-share earnings on revenue of $4.55
billion.
The company reported organic revenue growth of 7%, while
acquisitions increased revenue by 1%.
Shares, up 9.2% over the past 12 months, were unchanged in
premarket trading.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
January 28, 2016 06:41 ET (11:41 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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