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Print Edition StoriesFriday, November 13, 2009
Thermo Fisher refinances debt
By Mass High Tech staff
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Thermo Fisher Scientific Inc. has announced a cash tender offer for its 2.50 percent senior convertible notes due 2023. The Waltham-based instrumentation firm said that as of Thursday, about $295.3 million in aggregate principal for the convertible senior notes were outstanding.
Thermo Fisher (NYSE: TMO) also reported that it is redeeming its 6.75 percent senior subordinated notes due 2014, in which $300 million in aggregate principal is outstanding.
The company reported last month that third-quarter earnings are down 2 percent across both of its core businesses. The analytical technologies segment fell 6 percent, while the laboratory products and services gained 1 percent. It reported a small profit for the third quarter, reporting net income of $221.2 million on revenues of $2.53 billion in the third quarter of 2009, versus net income of $218.1 million on revenue of $2.59 billion.
With expected lower revenue for 2009 over 2008, Thermo Fisher officials narrowed its earnings guidance to $2.95 per share to $3.05 per share, altering its prior view of $2.85 per share to $3.10 per share.
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