Thermo Fisher's profit rises 9 pct as diagnostic devices sales jump

Reuters

Oct 23 (Reuters) - Thermo Fisher Scientific Inc, theworld's largest maker of laboratory equipment, reported a 9percent rise in quarterly profit due to strong sales of itsdiagnostic devices, and the company raised the low end of itsfull-year results forecast.

Net profit rose to $317.6 million, or 86 cents per share,from $290.4 million, or 79 cents per share, a year earlier.

Excluding one-time items, the company reported adjustedearnings of $1.30 per share, topping analysts' averageexpectations by 2 cents, according to Thomson Reuters I/B/E/S.

Revenue for the quarter rose about 3 percent to $3.19billion, roughly in line with Wall Street estimates of $3.17billion.

Specialty diagnostics business sales rose 7 percent whilerevenue grew double digits in China.

The company, which still expects to close its acquisition ofgenetic testing company Life Technologies Inc in early2014, took up the low end of its 2013 adjusted earnings forecastby 2 cents and now expects to earn $5.31 to $5.39 per share.

Thermo Fisher also raised the low end of its full-yearrevenue forecast by $40 million to a range of $12.87 billion to$12.95 billion.

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