Thermo Fisher Profit, Revenue Climb on Emerging Markets

   By Joshua Jamerson 
 

Medical equipment supplier Thermo Fisher Scientific Inc. reported slightly better-than-expected earnings during its latest quarter, as revenue rose in several of its geographic markets, including China.

The company's results were also boosted by its June acquisition of U.K-based Alfa Aesar, a research chemicals maker.

Thermo Fisher, which provides medical equipment and tools that help diagnose diseases and run clinical trials to pharmaceutical companies, hospitals, and research centers, operates foreign subsidiaries and has been seen a stronger dollar pressure revenue. In the quarter ended Dec. 31, currency effects shaved 4% off its top line.

The company in recent years has expanded its presence in Southeast Asia, India and South Korea.

Overall, Thermo Fisher reported a net profit of $602.6 million, or $1.50 a share, compared with $601.2 million, or $1.49 a share, in the year-ago period. Excluding items, per-share earnings grew to $2.12 from $1.99 a year ago.

Revenue grew by 4% to $4.65 billion. Analysts polled by Thomson Reuters expected $2.11 in per-share earnings on revenue of $4.55 billion.

The company reported organic revenue growth of 7%, while acquisitions increased revenue by 1%.

Shares, up 9.2% over the past 12 months, were unchanged in premarket trading.

Write to Joshua Jamerson at [e-mail]

(END) Dow Jones Newswires

January 28, 2016 06:41 ET (11:41 GMT)

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