Thermo Fisher Reports Q1 Revenues Up 10 Percent, Raises Full-Year Guidance
Thursday, April 28, 2016
NEW YORK (GenomeWeb) – Thermo Fisher Scientific today reported that its first quarter revenues increased 10 percent in a quarter that included four extra days compared to the prior year period.
For the three months ended April 2, Thermo Fisher reported revenue of $4.29 billion, up from $3.92 billion in the first quarter of 2015, and beating the average analyst estimate of $4.11 billion. Organic revenue grew 10 percent while acquisitions increased revenue by 1 percent.
On a conference call following the release of results, Thermo Fisher officials noted that revenues throughout the company benefitted from the four extra days in the first quarter, while currency headwinds decreased total revenue by 2 percent. Life Sciences Solutions revenue grew 11 percent to $1.13 billion from $1.02 billion in the first quarter of 2015. Analytical Instruments revenue increased 4 percent to $759 million from $727 million in 2015. Specialty Diagnostics revenue increased 9 percent to $855 million from $785 million in 2015, driven by solid growth in all businesses in the segment. Laboratory Products and Services revenue jumped 14 percent to $1.72 billion from $1.51 billion in the prior year period.