UPDATE: Thermo Fisher Posts Better-Than-Expected Q3 Earnings, Lowers Sales Forecast

Thermo Fisher Scientific (NYSE: TMO) reported upbeat earnings for the third quarter and lowered its full-year sales forecast.The Waltham, Massachusetts-based company posted quarterly net earnings of $471.6 million, or $1.17 per share, compared to $317.6 million, or $0.86 per share, in the year-ago period. Excluding one- time items, the company earned $1.71 per share.Its revenue climbed 31% to $4.17 billion. However, analysts were expecting a profit of $1.69 per share on revenue of $4.21 billion.Life Sciences Solutions Segment revenue climbed to $1.07 billion from $167 million, while Analytical Instruments Segment revenue rose 3% to $786 million. Specialty Diagnostics Segment revenue surged 7% to $812 million, while Laboratory Products and Services Segment revenue gained 2% to $1.63 billion in the quarter.Its adjusted operating income climbed 48%, while adjusted operating margin widened to 21.9% from 19.4%.Thermo Fisher Scientific now projects expects full-year revenue of $16.74 billion to $16.82 billion, versus from its earlier outlook of $16.86 billion to $16.98 billion. It now expects earnings to $6.87 to $6.95 per share, versus its prior outlook of $6.85 to $6.97 per share.“We're pleased to extend our long track record of consistently delivering strong adjusted EPS growth,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “We leveraged our solid top-line results and our culture of operational discipline to achieve excellent performance on the bottom line”Thermo Fisher Scientific shares climbed 3.40% to close at $118.22 yesterday.