Thermo Fisher Scientific Q1 Profit Increases, beats estimates

(RTTNews) - Thermo Fisher Scientific (TMO) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $1.33 billion, or $3.46 per share. This compares with $1.29 billion, or $3.32 per share, in last year's first quarter.

Excluding items, Thermo Fisher Scientific reported adjusted earnings of $1.96 billion or $5.11 per share for the period.

Analysts on average had expected the company to earn $4.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.4% to $10.35 billion from $10.71 billion last year.

Thermo Fisher Scientific earnings at a glance (GAAP) :

-Earnings (Q1): $1.33 Bln. vs. $1.29 Bln. last year. -EPS (Q1): $3.46 vs. $3.32 last year. -Revenue (Q1): $10.35 Bln vs. $10.71 Bln last year.

-Guidance: Full year EPS guidance: $21.14 to $22.02 Full year revenue guidance: $42.3 to $43.3 Bln