Thermo Reports Strong Growth and Confident Outlook for 2014

Thermo Fisher Scientific reported solid growth across all three business segments with excellent operating performance delivering strong adjusted EPS growth.

Fourth quarter and full year 2013 highlights included a rise in adjusted EPS by 10% to a record $5.42, and fourth quarter adjusted EPS by 5% to a record $1.43;  an increase in fourth quarter revenue by 6% to a record $3.74% and expanded adjusted operating margin in the fourth quarter by 40 basis points to 20.0%. Performance generated free cash flow of $1.75 billion for the full year.

Products launched during the year which strengthened the company’s core technologies in mass spectrometry, chromatography, specialty diagnostics and biosciences offerings, were highlighted by the breakthrough Orbitrap Fusion Tribrid and new triple-quad platforms.

In international markets 20% growth was achieved in China by leveraging investments to expand R&D, manufacturing and commercial capabilities; strong results were also seen in other high-growth markets, including Korea and Brazil.

The acquisition of Life Technologies also brought significant capability in complementary genomics, next-generation sequencing and forensic science capabilities for customers in life sciences and applied markets, and to expand presence in APAC and emerging markets.

“Our excellent performance in 2013 positions us well for the year ahead. We look forward to successfully integrating Life Technologies and fully leveraging our depth of capabilities to create value for our customers and achieve our goals for growth in 2014,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific.

Thermo Fisher is initiating adjusted EPS and revenue guidance for the full year 2014. The company expects to achieve adjusted EPS in the range of $6.70 to $6.90 for 2014, which would result in 24% to 27% adjusted EPS growth over 2013. The company expects to achieve 2014 revenue in the range of $16.63 billion to $16.83 billion, for 27% to 29% revenue growth year over year.