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5 years ago
Thermo profit tops Street view; forecast edges higher
July 25, 2012 / 10:11 AM / 5 years ago

Thermo profit tops Street view; forecast edges higher

July 25 (Reuters) - Thermo Fisher Scientific Inc on Wednesday reported second-quarter earnings that topped Wall Street expectations, helped by double-digit increases in specialty diagnostics sales, and the laboratory equipment maker slightly raised its full-year earnings forecast.

Excluding items such as acquisition-related costs, the industry leader posted an adjusted profit of $1.22 per share. Analysts on average expected $1.16, according to Thomson Reuters I/B/E/S.

Net income fell to $233.8 million, or 63 cents per share, from $523.4 million, or $1.36 per share, a year earlier, when the company recorded gains from the sale of businesses.

Despite unfavorable foreign exchange rates that reduce overseas sales but helped by acquisitions, Thermo forecast full-year adjusted earnings of $4.74 to $4.84 per share, up from its prior outlook of $4.71 to $4.83. (Reporting by Bill Berkrot in New York; Editing by Lisa Von Ahn)

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