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Thermo Fisher Scientific Reports Record 2008 First Quarter Revenues and Operating Performance
Date:4/24/2008

WALTHAM, Mass., April 24 /PRNewswire-FirstCall/ -- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, reported that revenues increased 9% to a record $2.55 billion in the first quarter of 2008, over $2.34 billion in the 2007 quarter. Currency translation increased revenues by 4%, and acquisitions, net of divestitures, increased revenues by 1%. GAAP diluted earnings per share (EPS) were $.53 in 2008, versus $.31 in the year-ago period. GAAP operating income for the 2008 quarter was $290.4 million, compared with $192.4 million in 2007, and GAAP operating margin was 11.4%, compared with 8.2% a year ago. GAAP results reflect improved operating performance and, to a lesser extent, charges in the 2007 period related to the merger with Fisher Scientific.

Adjusted EPS grew 25% to $.74 in the first quarter of 2008, over $.59 in the 2007 quarter. Adjusted operating income for the 2008 quarter increased 19% versus 2007 results, and adjusted operating margin expanded 140 basis points to 17.5%, compared with adjusted operating margin of 16.1% in the 2007 period. 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."

Highlights

-- Revenues grew 9%

-- Adjusted EPS rose 25%

-- Adjusted operating income increased 19%

-- Adjusted operating margin expanded 140 basis points

-- New products showcased at Pittcon and Analytica broaden applications

for mass spectrometry and molecular and elemental spectroscopy

technologies

-- Breakthrough siRNA platform launched to accelerate life sciences

research
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SOURCE Thermo Fisher Scientific Inc.
Copyright©2008 PR Newswire.
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