Thermo Fisher Scientific Reports Record 2008 First Quarter Revenues and Operating P...(and $60.4 of incremental tax bene...)

incremental tax benefit in 2008 and 2007, respectively, for the

pre-tax reconciling items between GAAP and adjusted net income; and

ii) in 2008, $9.6 of incremental tax benefit from adjusting the

company's deferred tax balances as a result of newly enacted tax rates

in Switzerland.

(g) During the first quarter of 2008, the company transferred management

responsibility for several small business units between segments.

Segment information for 2007 has been reclassified to reflect these

transfers.

Notes:

Consolidated depreciation expense in 2008 and 2007 is $47.6 and $46.0,

respectively.

Consolidated equity compensation expense included in both reported and

adjusted results is $11.0 and $13.8 in 2008 and 2007, respectively.

Consolidated net capital expenditures in Q1 2008 totaled $53.3.

Condensed Consolidated Balance Sheet (unaudited)

(In millions) Mar. 29, 2008 Dec. 31, 2007

Assets

Current Assets:

Cash and cash equivalents $734.0 $625.1

Short-term investments 14.1 14.1

Accounts receivable, net 1,585.7 1,450.0

Inventories 1,246.7 1,169.9

Other current assets 408.3 406.2

Total current assets 3,988.8 3,665.3

Property, Plant and Equipment, Net 1,297.5 1,267.4

Acquisition-related Intangible Assets 7,090.6 7,157.8

Other Assets 402.6 403.7

Goodwill 8,718.4 8,713.2

Total Assets $21,497.9 $21,207.4