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Thermo Fisher Scientific Reports Second Quarter 2013 Results

Stocks in this article: TMO

Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today reported its financial results for the second quarter ended June 29, 2013.

Second Quarter 2013 Highlights

  • Adjusted earnings per share (EPS) grew 8% to a second quarter record of $1.32
  • Revenue increased 4% to $3.24 billion, a second quarter record
  • Adjusted operating margin expanded 30 basis points to 19.3%
  • Reinforced innovation leadership at ASMS with launch of three mass spectrometry platforms offering unprecedented analysis and ease of use for life sciences research and applied markets
  • Continued to strengthen R&D capabilities in Asia-Pacific by establishing new China Innovation and Technology Training Center for healthcare, environmental and food safety customers
  • Secured significant portion of debt and equity financing to fund pending acquisition of Life Technologies

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.”

“We delivered another solid quarter, with good performance on the top and bottom line,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific.

“It was a stand-out quarter for innovation, highlighted by our industry-leading mass spectrometry launches at ASMS. We unveiled three new-generation Thermo Scientific platforms – the breakthrough Orbitrap Fusion Tribrid, and the Quantiva and Endura triple quads – to provide a broad set of customers with exceptional levels of performance, speed and ease of use. We also continued to strengthen our R&D capabilities in Asia-Pacific by establishing our new China Innovation Center in Shanghai – another example of our focus on innovating to meet our customers’ needs.

“In terms of our pending acquisition of Life Technologies, I’m pleased to report that the integration planning teams are making great progress. We’re excited about the opportunities ahead and look forward to closing the transaction early in 2014.”

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