Thermo Fisher reports ‘great year’ for 2010
Acquisitions in Asia-Pacific help increase revenue
Scientific instrument maker Thermo Fisher Scientific said its fourth-quarter revenue fell 2% to US$2.8bn, while earnings rose 9% to $298m.
Acquisitions helped increase revenues during the three months ending 31 December 2010 by 2% year-on-year, while the effects of currency translation lowered revenues by 1%, resulting in a 3% decline in revenues organically.
For the full year, revenues grew 7% to $10.8bn, with a profit of $1.04bn, a 22% increase.
The US firm said it had continued to make significant investments in the Asia-Pacific region, including a new China Technology Centre in Shanghai and the acquisition of Dionex for $2bn to expand its chromatography portfolio.
Thermo Fisher said revenue from its laboratory products and services revenue fell 6% to $1.67bn in the fourth quarter, while analytical technologies revenue rose 4% to $1.24bn.
For the full year 2010, revenues in the laboratory products and services segment increased 4% to $6.69bn. Segment adjusted operating income increased 6% in 2010, while adjusted operating margin increased 14%.
Thermo Fisher Scientific chief executive Marc Casper said the firm had a ‘great year’ in 2010.
‘We achieved our financial goals by successfully executing our plan and reinforced our leading position through continued innovation and commercial expansion,’ he said.
In 2011, the firm’s goal will be to build on its strong operating performance and generate solid returns from investments.