Thermo Fisher quarterly results edge past estimates, ups forecast
July 26 (Reuters) - Thermo Fisher Scientific Inc on Wednesday reported quarterly profit and revenue slightly ahead of analysts' estimates, helped by increased sales across its businesses, and raised its full-year earnings and revenue forecasts.
Sales in three of the four core divisions of the world's largest maker of scientific instruments - life sciences, specialty diagnostics and laboratory products and services - rose by low-single digits in percentage terms in the second quarter ended July 1.
Meanwhile, its analytical instruments business generated sales of $1.17 billion, a near 47 percent jump, helped by the company's $4.2 billion purchase of microscope maker FEI Co.
Thermo Fisher, which agreed to acquire Patheon NV for $5.2 billion in May, said net income rose to $611.6 million, or $1.56 per share, in the quarter, from $516.6 million, or $1.30 per share, a year earlier.
Excluding items, the company earned $2.30 per share, beating analysts' average estimate of $2.27 per share, according to Thomson Reuters I/B/E/S.
Revenue rose 10 percent to $4.99 billion. Analysts on average were expecting revenue of $4.92 billion.
The company raised the lower end of its full-year adjusted earnings per share forecast by 3 cents to $9.15, and maintained the higher end at $9.28.
Thermo Fisher now expects full-year revenue in the range of $19.71 billion to $19.89 billion, compared with $19.51 billion to $19.71 billion it forecast previously. (Reporting by Divya Grover in Bengaluru; Editing by Amrutha Gayathri)
