UPDATE: Thermo Fisher Posts Upbeat Q1 Profit, Raises Forecast

Thermo Fisher Scientific Inc

reported a better-than-expected first-quarter profit and lifted its full-year target. Thermo Fisher's quarterly net profit rose to $277.3 million, or $0.75 per share, from $252.2 million, or $0.63 per share, in the year-ago period. Excluding items, the company earned $1.17 per share, versus analysts' estimates of $1.11 per share. Thermo Fisher now projects 2012 adjusted earnings of $4.71 to $4.83 per share, versus its earlier forecast $4.67 to $4.82 per share. It now projects revenue of $12.27 billion to $12.43 billion, versus its earlier forecast of $12.15 billion to $12.35 billion. Thermo Fisher shares closed at $52.74 yesterday.