UPDATE: Thermo Fisher Reports Strong Rise In Q2 Profit, Raises 2011 Earnings Forecast

Thermo Fisher Scientific Inc

reported a rise in its second-quarter net profit and lifted its earnings forecast for the year. Thermo Fisher reported its quarterly net profit at $523.4 million, or $1.36 per share, up from $237.3 million, or $0.57 per share, in the year-ago period. Its adjusted earnings per share surged 22% to $0.99. The company's revenue climbed 12% to $2.9 billion. Analysts were expecting earnings of $0.98 per share on revenue of $2.84 billion. Thermo Fisher raised its adjusted earnings forecast for 2011 earnings by $0.03 per share to a range of $4.08 to $4.18 per share. Analysts expected earnings of $4.13 per share. Thermo Fisher shares fell 3.92% to close at $61.55 yesterday.