Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidanc...(erating income in 2007 was $974.4 millio...)

Date:2/6/2008

erating income in 2007 was $974.4 million, compared with $242.0 million a year ago, and GAAP operating margin was 10.0% in 2007, compared with 6.4% in 2006. Full-year adjusted EPS grew 39% to $2.65 in 2007, versus $1.91 in 2006. Adjusted operating income for 2007 increased 25% over pro forma 2006 results, and adjusted operating margin expanded 210 basis points to 16.8%, compared with pro forma adjusted operating margin of 14.7% in 2006.

Adjusted EPS, adjusted operating income and adjusted operating margin are non-GAAP measures that exclude certain items detailed later in this press release under the heading "Use of Non-GAAP Financial Measures."

Full-Year Highlights

-- Revenues grew 10% over pro forma 2006

-- Adjusted EPS rose 39%

-- Adjusted operating income increased 25% over pro forma 2006

-- Adjusted operating margin expanded 210 basis points over pro forma 2006

-- Leveraged $240 million of R&D spending to launch range of innovative

new products

-- Achieved goal of $75 million in synergies related to Fisher merger

-- Generated more than $1.3 billion of operating cash flow from continuing

operations, net of capital expenditures

-- Completed bolt-on acquisitions that added $240 million in annualized

revenues

-- Repurchased approximately $900 million of our common stock

"We are very pleased to report a record fourth quarter, continuing the momentum we've had all year long and leading to an incredibly successful 2007," said Marijn E. Dekkers, president and chief executive officer of Thermo Fisher Scientific. "Our adjusted EPS for the year rose 39% on good top line growth, and we achieved excellent operating margin expansion of 210 basis points. This performance is the result of our ongoing commitment to product innovation, world-class commercial execution and our relentless focus on operating excellence.

"Even more exciting, we achieved these strong fin
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SOURCE Thermo Fisher Scientific Inc. Copyright©2008 PR Newswire. All rights reserved

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