8-KRegulation FDExhibits & Filings

THERMO FISHER SCIENTIFIC INC. 8-K Report, Regulation FD Disclosure (Oct 27, 2004)

Filed October 27, 2004For Securities:TMO

Summary

Thermo Fisher Scientific Inc. (TMO) reported its third-quarter 2004 financial results on October 26, 2004. The company announced significant year-over-year growth, with revenues increasing by 21% to $542 million. This growth was driven by a combination of organic revenue increases of 9%, positive currency translation effects contributing 5%, and a 7% boost from acquisitions and divestitures. Diluted Earnings Per Share (EPS) saw a substantial rise to $0.65, which included a significant gain from discontinued operations. On an adjusted basis, which excludes certain items, the company reported a 23% increase in EPS to $0.32 and a 23% rise in adjusted operating income, highlighting strong core operational performance. The company also provided updated full-year guidance, narrowing its adjusted EPS range to $1.23-$1.25, and projected fourth-quarter adjusted EPS between $0.36 and $0.38. Management expressed confidence in their growth strategy, citing investments in new products, services, and strategic acquisitions. The report also detailed performance by segment, with the Life and Laboratory Sciences segment showing robust 27% revenue growth and the Measurement and Control segment experiencing 9% revenue growth.

Key Highlights

  • 1Reported third-quarter 2004 revenues of $542 million, a 21% increase over the prior year.
  • 2Achieved a 23% increase in adjusted diluted EPS to $0.32 for the third quarter of 2004.
  • 3Generated 9% organic revenue growth in the third quarter, indicating strong underlying business performance.
  • 4Acquired InnaPhase LIMS business for $65 million, enhancing the Life and Laboratory Sciences segment's informatics offerings.
  • 5Narrowed full-year 2004 adjusted EPS guidance to $1.23-$1.25 and projected Q4 adjusted EPS of $0.36-$0.38.
  • 6The Life and Laboratory Sciences segment reported revenue growth of 27%, driven by new products and the InnaPhase acquisition.
  • 7The Measurement and Control segment saw revenue growth of 9%, benefiting from strong demand in industrial markets and China.

Frequently Asked Questions

Thermo Fisher Scientific reported a 21% increase in revenue to $542 million for the third quarter of 2004. GAAP diluted EPS was $0.65, which included a gain from discontinued operations. Adjusted diluted EPS grew 23% to $0.32, and adjusted operating income also increased by 23%.

Organic revenues, which exclude the impact of currency fluctuations and acquisitions/divestitures, grew by 9% in the third quarter of 2004. This indicates solid growth from the company's existing businesses.

Thermo Fisher Scientific has narrowed its full-year 2004 adjusted EPS guidance to a range of $1.23 to $1.25. The company also anticipates fourth-quarter 2004 adjusted EPS to be between $0.36 and $0.38.

Yes, the company announced the acquisition of the InnaPhase LIMS business for $65 million. This acquisition is expected to enhance its informatics offerings within the Life and Laboratory Sciences segment, particularly for pharmaceutical applications.