UPDATE 2-Thermo Fisher 1st quarter profit tops Street view

* Q1 adjusted EPS $0.84 vs Street view $0.75

* Revenue up 19 pct to $2.68 bln vs Street view $2.51 bln

* Raises 2010 EPS forecast to $3.40 to $3.50
(Adds sales details)

NEW YORK, April 28 (BestGrowthStock) – Thermo Fisher Scientific Inc
(TMO.N: ) reported better-than-expected first-quarter profit (Read more your timing to make a profit.) on
Wednesday on high double-digit sales increases in both of its
business units, and it raised its 2010 earnings forecast.

The Scientific instruments maker reported a net profit of
$232.3 million, or 56 cents per share, compared with a profit
of $148.9 million, or 35 cents a share, a year earlier.

Excluding items, Thermo had adjusted earnings of 84 cents a
share, topping analysts’ average expectations by 9 cents,
according to Thomson Reuters I/B/E/S.

Revenue for the quarter jumped 19 percent to $2.68 billion,
exceeding Wall Street estimates of $2.51 billion. Six percent
of the revenue increase was due to favorable currency exchange
rates and contributions from acquisitions, the company said.

Citing the strong quarter and benefits from a stock buyback
and debt refinancing, Thermo raised its 2010 earnings forecast
to $3.40 to $3.50 per share from its prior view of $3.30 to
$3.45 per share.

Thermo also slightly raised the low end of its revenue
forecast range despite what it sees as “increasing foreign
exchange headwinds.”

The Waltham, Massachusetts-based company expects full-year
revenue of $10.65 billion to $10.8 billion. The previous low
end of the range was $10.6 billion.

Sales in the analytical technologies business rose 18
percent to $1.11 billion, while laboratory products and
services sales surged 19 percent to $1.7 billion.

Stock Market Research

(Reporting by Bill Berkrot; Editing by Derek Caney)

UPDATE 2-Thermo Fisher 1st quarter profit (Read more your timing to make a profit.) tops Street view