UPDATE 3-Thermo Fisher profit falls, lowers forecast

* Thermo Fisher Q1 net earnings $0.35 per share

* Revenue falls 12 pct to $2.26 bln

* Cuts '09 EPS forecast by $0.20, revs by $400 mln

* Shares off 9.2 pct (Adds analyst comment, share price)

By Bill Berkrot

NEW YORK, April 23 (Reuters) - Thermo Fisher Scientific Inc reported a lower-than-expected quarterly profit on Thursday and slashed its 2009 earnings and sales forecast as the global recession curtailed customer spending and a stronger dollar hit revenue, sending its shares down as much as 12 percent.

"The tough economy had a significant impact on our results for the first quarter, particularly in our instrumentation and equipment businesses," Chief Executive Marijn Dekkers said in a statement.

"Our customers are clearly delaying their capital purchases in the current environment," Dekkers said after his company posted a 35 percent decline in net income for the quarter.

The scientific instrument maker said net profit fell to $148.9 million, or 35 cents per share, from $229.7 million, or 53 cents per share, a year ago.

Excluding items, Thermo (TMO.N) had adjusted earnings of 62 cents per share, some eight cents shy of analysts' average expectations, according to Reuters Estimates.

"While expectations were low heading into the announcement amid concerns about various end market headwinds, we believe organic growth was well below what even the pessimists were expecting," Cowen and Co analyst Doug Schenkel said in a research note.

"Also notably, the company wasn't able to pull enough operational levers to get EPS close to consensus expectations," said Schenkel, adding: "Results suggest that the deterioration in the demand for instrument and consumables was worse than even already metered expectations, and that weakness was potentially broader than anticipated."

Citing little sign of improvement in the global economy thus far, Thermo slashed its 2009 forecasts.

The Waltham, Massachusetts-based company cut its profit forecast by 20 cents per share and now expects to earn $2.80 to $3.10 per share, excluding items.

Thermo cut its full-year revenue projection by $400 million to a range of $9.6 billion to $9.9 billion.

Analysts on average are estimating earnings of $3.16 a share and revenue of $10.11 billion, according to Reuters Estimates.

Revenue for the quarter fell 12 percent to $2.26 billion with the stronger dollar accounting for 5 percent of the decline, Thermo said.

Analytical technologies sales fell 14 percent to $939 million, while laboratory products and services revenue dropped 9 percent to $1.42 billion.

Thermo shares were down $3.23, or 9.2 percent, at $31.96 in late morning trading on the New York Stock Exchange after falling as low as $30.84 earlier in the session. (Reporting by Bill Berkrot; Editing by Derek Caney and Gunna Dickson)