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

6 to 20% growth in adjusted EPS over our 2007 results." (The 2008 guidance does not include any future acquisitions or divestitures, and is based on present currency exchange rates. In addition, the adjusted EPS estimate excludes amortization expense for acquisition-related intangible assets and certain other items detailed later in this press release under the heading "Use of Non-GAAP Financial Measures.")

Management uses adjusted operating results to monitor and evaluate performance of the company's business segments.

Analytical Technologies Segment

Revenues in the Analytical Technologies Segment grew 10% in the first quarter of 2008 to $1.09 billion, compared with revenues of $988 million in the 2007 quarter. Adjusted operating income increased 23% in the first quarter of 2008, and adjusted operating margin rose to 21.0%, versus 18.8% in the 2007 period.

Laboratory Products and Services Segment

In the Laboratory Products and Services Segment, revenues grew 9% in the first quarter of 2008 to $1.57 billion, compared with revenues of $1.43 billion in the 2007 quarter. Adjusted operating income increased 15% in the first quarter of 2008, and adjusted operating margin rose to 13.9%, versus 13.3% in the 2007 period.

Use of Non-GAAP Financial Measures

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including adjusted EPS, adjusted operating income and adjusted operating margin, which exclude restructuring and other costs/income and amortization of acquisition-related intangible assets. Adjusted EPS also excludes certain other gains and losses, tax provisions/benefits related to the previous items, benefits from tax credit carryforwards, the impact of significant tax audits or events and discontinued operations. We exclude the above items because they are outside of our normal operations and/or, in certain cases,
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SOURCE Thermo Fisher Scientific Inc.
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