Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today reported its financial results for the fourth quarter and full year ended December 31, 2012.
Fourth Quarter and Full Year 2012 Highlights
- Adjusted earnings per share (EPS) in the fourth quarter of 2012 grew 14% to a record $1.36, and for the full year grew 19% to a record $4.94.
- Revenue in the fourth quarter increased 6% to a record $3.26 billion.
- Adjusted operating margin in the fourth quarter expanded 40 basis points to 19.6%.
- Generated record full year free cash flow of $1.77 billion.
- Full year revenue from high-growth Asia-Pacific markets now represents 17% of total company revenue, up from 15% in 2011; China became the second largest geography by revenue, at more than $700 million in 2012.
- Strengthened technology leadership with numerous Thermo Scientific product launches in 2012, including the iCAP™Q ICP mass spectrometer, Trace™ 1300 gas chromatograph, TruNarc™ handheld drug analyzer, Lynx SuperSpeed centrifuge and the PikoReal™ PCR system.
- Invested $1.1 billion to acquire complementary businesses that increase depth of capabilities, highlighted by acquisition of One Lambda, which expanded specialty diagnostics offering into high-growth transplant diagnostics market.
- Deployed $350 million in the fourth quarter to repurchase 5.7 million shares, and $1.15 billion for the full year to repurchase 20.8 million shares.
- Initiated first quarterly dividend in company history and increased dividend by 15% in the fourth quarter to $0.15, based on strong performance and outlook.
Adjusted EPS, adjusted operating income, adjusted operating margin and free cash flow are non-GAAP measures that exclude certain items detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”