UPDATE: Thermo Fisher Posts Upbeat Q3 Profit, Lifts 2012 Forecast
Thermo Fisher Scientific (NYSE: TMO) reported an upbeat third-quarter profit and lifted its full-year view.
Thermo Fisher now projects 2012 adjusted earnings of $4.81 to $4.88 per share on revenue of $12.32 billion to $12.40 billion. The company had earlier expected earnings of $4.74 to $4.84 per share on revenue of $12.14 billion to $12.26 billion.
Its quarterly net profit surged to $290.4 million, or $0.79 per share, from $265.4 million, or $0.69 per share, in the year-ago period. Excluding one-time items, the company earned $1.19 per share.
Thermo Fisher's revenue gained 5% to $3.09 billion. However, analysts were expecting a profit of $1.16 per share on revenue of $2.99 billion.
Thermo Fisher shares closed at $57.61 yesterday.
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