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Thermo Fisher Scientific Merger Increases Profit |
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Written by Tracy Heffner
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Thursday, 26 April 2007 |
WALTHAM, MA – Thermo Fisher Scientific Inc. reported a jump in net profit in its first full quarter since Thermo Electron acquired Fisher Scientific International. The combined entity posted net profit of $138.9 million compared with $46.9 million a year earlier for Thermo Electron.
On a pro forma basis, which assumes the companies were combined for all of 2006, adjusted operating income rose 34% and revenue increased 11.5% to $2.1 billion. Thermo closed its acquisition of Fisher on November 9. Total revenue for the quarter rose to $2.34 billion from $684.3 million, largely due to the merger.
"Much of this growth came from new products introduced within the last two years," CEO Marijn Dekkers said in a statement.
Sales from the analytical technologies unit rose 15% to $1.01 billion for the quarter, while laboratory products and services revenue increased 9% to $1.42 billion.
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