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Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008
Date:2/6/2008

WALTHAM, Mass., Feb. 6 /PRNewswire-FirstCall/ -- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, reported that revenues increased to a record $2.62 billion in the fourth quarter of 2007 (largely as a result of the November 2006 merger with Fisher Scientific), compared with $1.67 billion in the 2006 quarter. GAAP diluted earnings per share (EPS) were $.54 in 2007, versus $0.08 in the year-ago period. GAAP operating income for the 2007 quarter was $285.0 million, compared with $26.9 million in 2006, and GAAP operating margin was 10.9%, compared with 1.6% a year ago. The 2006 results include significant merger-related charges.

For a better comparison of the company's operating performance from 2006 to 2007, we are also presenting our 2006 revenues and adjusted operating results (except adjusted EPS) on a pro forma basis, as if Thermo and Fisher had been combined for the entire year. Fourth quarter 2007 revenues grew 12% to $2.62 billion, over pro forma 2006 revenues of $2.35 billion. Currency translation increased revenues by 4%, and acquisitions, net of divestitures, increased revenues by 2%. Adjusted EPS grew 33% to $.76 in the fourth quarter of 2007, versus $.57 in the 2006 quarter. Adjusted operating income for the 2007 quarter increased 27% over pro forma 2006 results, and adjusted operating margin expanded 200 basis points to 17.2%, compared with pro forma adjusted operating margin of 15.2% in the 2006 period.

For the full year, revenues grew 10% to $9.75 billion in 2007, over pro forma 2006 revenues of $8.87 billion. Currency translation increased revenues by 3%, and acquisitions, net of divestitures, increased revenues by 1%. GAAP diluted EPS was $1.72 in 2007, versus $.84 in 2006. GAAP op
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SOURCE Thermo Fisher Scientific Inc.
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