Thermo Fisher narrows 2009 profit and sales goals

Thermo Fisher adjusts profit and revenue estimates, but remains close to analyst expectations

• On 10:16 am EDT, Thursday October 22, 2009

WALTHAM, Mass. (AP) -- Scientific instrument maker Thermo Fisher Scientific Inc. narrowed its annual profit and revenue estimates Thursday, but its guidance was about equal to Wall Street forecasts.

Thermo Fisher said it now expects a profit of $2.95 to $3.05 per share in 2009. Last month it estimated $2.85 to $3.10 per share. It called for $9.95 billion to $10.05 billion in revenue, compared with a previous estimate of $9.8 billion to $10.1 billion.

On average, Thomson Reuters analysts expect a profit of $3 per share and revenue of $10 billion, which are in the middle of both forecast ranges.

The company expects revenue to decrease 4 percent to 5 percent compared with 2008.

Thermo Fisher reported its third-quarter results Thursday, with profit and revenue both surpassing analyst expectations.

In morning trading, the shares fell 84 cents to $46.47.