8-KEarnings & ResultsExhibits & Filings

THERMO FISHER SCIENTIFIC INC. 8-K Report, Financial Results (Feb 3, 2005)

Filed February 3, 2005For Securities:TMO

Summary

Thermo Fisher Scientific Inc. (TMO) reported strong financial results for the fourth quarter and full year ended December 31, 2004. The company demonstrated robust revenue growth of 16% for both the quarter and the full year, reaching $613 million and $2.2 billion, respectively. This growth was driven by a combination of organic performance, favorable currency translation, and strategic acquisitions. While GAAP diluted EPS saw a significant increase to $0.74 for the quarter and $2.17 for the year, largely influenced by tax benefits and gains from asset sales, the company also highlighted adjusted EPS growth of 15% for both periods. The acquisition of Kendro Laboratory Products was announced, signaling a continued focus on expanding the company's offerings. Management expressed optimism for 2005, providing guidance that anticipates continued growth and strategic execution.

Key Highlights

  • 1Reported 16% revenue growth for both the fourth quarter ($613 million) and the full year ($2.2 billion) of 2004.
  • 2GAAP diluted EPS increased significantly to $0.74 for Q4 2004 and $2.17 for the full year 2004, aided by tax benefits and gains from discontinued operations.
  • 3Adjusted EPS grew 15% for the fourth quarter to $0.38 and 15% for the full year to $1.25, indicating solid operational performance.
  • 4Announced agreement to acquire Kendro Laboratory Products in January 2005, underscoring a strategy of growth through acquisitions.
  • 5The Life and Laboratory Sciences segment showed strong revenue growth of 21% in Q4 2004, driven by mass spectrometry and molecular spectroscopy instruments.
  • 6Cash flow from continuing operations rose 20% to $240 million for the full year 2004.
  • 7Provided positive financial guidance for Q1 2005 ($0.29 to $0.31 adjusted EPS) and full year 2005 ($1.40 to $1.45 adjusted EPS).

Frequently Asked Questions

Thermo Fisher Scientific reported a 16% increase in revenue for the fourth quarter of 2004, reaching $613 million compared to $529 million in the prior year. For the full year 2004, revenues grew 16% to $2.2 billion, up from $1.9 billion in 2003.

GAAP diluted EPS significantly increased to $0.74 in the fourth quarter of 2004, up from $0.37 in the prior year, primarily due to tax benefits. For the full year, GAAP diluted EPS was $2.17, compared to $1.20 in 2003. Adjusted EPS also saw strong growth, increasing 15% to $0.38 for the fourth quarter and 15% to $1.25 for the full year.

The revenue growth was driven by a combination of factors. Organic revenue grew 3% in the fourth quarter and 4% for the full year. Currency translation had a positive impact, increasing revenues by 5% in both periods. Strategic acquisitions also contributed significantly, accounting for an 8% increase in Q4 revenue and a 7% increase for the full year.

Thermo Fisher Scientific announced an agreement to acquire Kendro Laboratory Products, signaling continued strategic expansion. The company expressed optimism for 2005, providing guidance for the first quarter of 2005 with an expected adjusted EPS of $0.29 to $0.31, and for the full year 2005 with an expected adjusted EPS of $1.40 to $1.45.