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Thermo Fisher Scientific Completes Acquisition Of One Lambda

Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, has completed its previously announced acquisition of One Lambda, Inc., the leader in transplant diagnostics. Based in Canoga Park, Calif., One Lambda has approximately 320 employees and had 2011 revenue of $182 million. The business will become part of Thermo Fisher’s Specialty Diagnostics Segment.

“We are pleased to welcome One Lambda to our team and significantly increase our access to the attractive transplant diagnostics market,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “One Lambda’s tests for tissue typing and antibody detection complement our existing immunosuppressant assays, allowing us to offer a broad menu of tests across the transplant-testing workflow. We are excited about this combination and the opportunities it presents to ultimately improve the lives of transplant patients.”

Thermo Fisher reiterated its expectation that the One Lambda transaction will be accretive to 2012 adjusted earnings per share (EPS) and that it will add $0.09 to $0.11 to the company’s 2013 adjusted EPS results. Based upon the timing of the close, the transaction will have an immaterial impact on Thermo Fisher’s third quarter adjusted EPS. The company will provide updated guidance for 2012 when it reports its third quarter 2012 financial results.

Use of Non-GAAP Financial Measures

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including adjusted EPS, which excludes restructuring and other costs/income and amortization of acquisition-related intangible assets, certain other gains and losses, tax provisions/benefits related to the previous items, benefits from tax credit carryforwards, the impact of significant tax audits or events and discontinued operations. We exclude the above items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods. We believe that the use of non-GAAP measures helps investors to gain a better understanding of our core operating results and future prospects, consistent with how management measures and forecasts the company's performance, especially when comparing such results to previous periods or forecasts.

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