Thermo Fisher Q3 Revenues up 31 Percent
Monday, November 3, 2014
Source: GenomeWeb Daily News
Thermo Fisher Scientific today reported that its third quarter revenues jumped 31 percent year over year as the firm surpassed the consensus analyst estimate on the bottom line but missed it on the top line.
For the three months ended Sept. 27, Thermo Fisher said total revenues increased to $4.17 billion from $3.19 billion in the year-ago period, but were below the consensus Wall Street expectation of $4.21 billion.
By segment, Life Sciences Solutions was up dramatically to $1.07 billion from $167.2 million a year ago, largely due to the contributions from Life Technologies, which Thermo Fisher acquired earlier this year. Excluding the Life Tech business, revenues in the segment were up 3 percent year over year on an organic basis, Thermo Fisher CFO Peter Wilver said on a conference call following the release of the company's financial results.