WASHINGTON (dpa-AFX) - Thermo Fisher Scientific Inc. (TMO) reported that its first-quarter income from continuing operations increased to $543.1 million or $1.36 per share, from $340.8 million or $0.94 per share, previous year. Adjusted earnings per share was $1.53, for the quarter.
On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.40 for the quarter. Analysts' estimates typically exclude special items.
Revenues rose to $3.90 billion from $3.19 billion, previous year. Analysts expected revenue of $3.79 billion for the quarter.
Thermo Fisher raised its annual revenue and adjusted earnings per share guidance for full-year 2014 primarily to reflect the timing of the Life Technologies acquisition and related divestitures, as well as more favorable foreign exchange.
The company raised its revenue guidance to a new range of $16.84 billion to $17.00 billion from its previous guidance of $16.63 billion to $16.83 billion. The company also raised its adjusted earnings per share guidance to a new range of $6.80 to $6.95 from the $6.70 to $6.90 previously announced. Analysts expect the company to report full year profit per share of $6.85 on revenue of $16.82 billion.
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