WASHINGTON (dpa-AFX) - Laboratory equipment maker Thermo Fisher Scientific Inc. (TMO) posted second-quarter income from continuing operations of $278.5 million or $0.69 per share, versus last year's $277.6 million or $0.76 per share. Adjusted earnings per share amounted to $1.72 during the latest quarter. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $1.62 for the quarter. Analysts' estimates typically exclude special items.
Second-quarter 2014 GAAP per-share earnings dropped year-on-year due to higher acquisition-related charges in 2014, the company said. Quarterly GAAP operating income was $348 million, compared with $375 million, in the year-ago period.
Revenue for the quarter grew 33% year-over-year to $4.32 billion, from $3.24 billion, and organic revenue rose by 5%, with currency translation increasing revenue by 1% and acquisitions, net of divestitures, increasing revenue by 27%. Analysts expected revenue of $4.25 billion for the quarter.
The company updated its annual revenue and adjusted EPS guidance for full-year 2014 mainly to reflect solid operating performance in the first half of the year, increased synergies from the Life Technologies integration and the expected divestiture of its Cole-Parmer business.
Accordingly, the firm now sees 2014 revenue in the range of $16.86 billion - $16.98 billion, versus its prior range of $16.84 billion - $17.00 billion, with year-on-year revenue growth remaining at 29% to 30%. Further, Thermo Fisher has revised up its adjusted EPS view to a new range of $6.85 - $6.97 from the $6.80 - $6.95 prior announced range. Analysts currently project earnings of $6.90 per share on revenues of $16.94 billion for 2014.
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