Thermo Fisher 3Q net income climbs 9 percent

Lab product sales lift Thermo Fisher 3rd-qtr net income; company points to stronger outlook

Associated Press

WALTHAM, Mass. (AP) -- NEWS: Scientific instrument maker Thermo Fisher said Wednesday its net income rose 9 percent in the third quarter on greater sales of laboratory products and other items. Its shares briefly hit an all-time high/

DETAILS: Thermo Fisher said revenue from laboratory products and services grew 4 percent. Its analytical technologies and specialty diagnostics revenue also improved. The company raised the low end of its annual earnings and revenue guidance.

NUMBERS: Thermo Fisher's net income rose to $317.6 million, or 86 cents per share, from $290.4 million, or 79 cents per share. Excluding one-time items the company said it earned $1.30 per share. Revenue rose 3 percent to $3.19 billion from $3.09 billion

Analysts were expecting earnings of $1.28 per share on revenue of $3.18 billion, according to FactSet.

FUTURE: Thermo Fisher is now forecasting net income of $5.31 to $5.39 per share and $12.87 to $12.95 billion in revenue for all of 2013. Analysts expect earnings of $5.35 per share and $12.92 billion in revenue on average.

The company said its acquisition of Life Technologies Corp. is on track to close next year. In April Thermo Fisher agreed to buy the genetic analysis company for $13.6 billion.

STOCK: Shares of Thermo Fisher Scientific Inc. rose 49 cents to $96.31 in morning trading after rising as high as $97.93 earlier. FactSet says that is an all-time high.

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