WASHINGTON (dpa-AFX) - Thermo Fisher Scientific Inc. (TMO), which makes medical devices and provides lab management services, Wednesday reported third-quarter earnings which increased, due mainly to the Life Technologies acquisition. Earnings topped analysts' estimates, but revenues fell short.
Looking ahead, the company lowered its annual revenue guidance to below Street view, and narrowed its earnings outlook.
For the three months to September, net earnings were $471.6 million or $1.17 per share, up from $317.6 million or $0.86 per share a year earlier.
Excluding certain items, per-share earnings of $1.71 beat the $1.69 consensus earnings estimate of analysts polled by Thomson-Reuters. Analysts' estimates typically exclude one-time items.
Revenues advanced 31 percent to $4.17 billion, from $3.19 billion last year, but were shy of $4.21 billion Wall Street expected. Organically, revenues grew by 4 percent.
For the full year, the company lowered its revenue outlook to $16.74 billion- $16.82 billion, from $16.86 billion- $16.98 billion previously projected.
Thermo Fisher narrowed its annual adjusted earnings guidance to $6.87 to $6.95 per share from prior guidance range of $6.85 to $6.97 per share.
Analysts expect earnings of $6.92 per share on revenues of $16.89 billion for 2014.
Copyright RTT News/dpa-AFX