UPDATE: Thermo Fisher Scientific Beats Q4 Expectations

reported better-than-expected earnings for the fourth quarter. The Waltham, Massachusetts-based company posted a quarterly net profit of $601.2 million, or $1.49 per share, versus a year-ago profit of $342.1 million, or $0.92 per share. Excluding items, the company earned $1.99 per share, beating analysts' estimates of $1.94 per share. Its revenue surged 30% to $4.49 billion, versus expectations of $4.38 billion. Sales at the company's Life Sciences Solutions Segment business jumped to $1.19 billion from $192 million, while Analytical Instruments segment revenue rose 2% to $902 million. Specialty Diagnostics segment revenue jumped 4% to $863 million, while Laboratory Products and Services segment revenue rose 2% to $1.68 billion in the quarter. Adjusted operating margin rose by 280 basis points to 22.8% in the quarter. “I'm pleased to report that we achieved outstanding growth in the quarter on both the top and bottom line, extending our long track record of strong adjusted EPS performance,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “We focused intently on our customers and executed well to capitalize on opportunities we identified at the end of the year. Thermo Fisher Scientific shares fell 0.22% to $124.07 in pre-market trading.