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Quarterly profit is up 8.6 percent at Thermo Fisher Scientific Inc. (NYSE: TMO), and the Waltham R&D company is raising guidance for the full-year 2011.
Thermo Fisher said in a press release this morning that the firm’s first-quarter 2011 GAAP net income hit $252.2 million, topping Q1 2010’s $232.3 million. Top-line revenue also grew to $2.7 billion, from $2.6 billion in Q1 last year. Net profit margin improved to 9.3 percent from 8.8 percent in the year-ago period.
The company raised its adjusted earnings-per-share and revenue guidance for the full year. Adjusted EPS guidance rose 5 cents per share, to a new range of $4.05 to $4.15 – 17 percent to 20 percent growth over 2010. The company raised its revenue guidance midpoint by $180 million to a new range of $11.52 billion to $11.62 billion.
In a statement, president and CEO Marc Casper cited new products, “from mass spectrometry-based workflows for drug screening, to high-performance spectroscopy instruments for chemical analysis, to portable analyzers for applications in the field.” He also cited continued expansion in Asia-Pacific markets, including announced plans to open another new facility in China, providing laboratory consumables for local life sciences customers.
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