Thermo Fisher Scientific Reports First Quarter 2011 Results

Thermo Fisher Scientific Inc. TMO, the world leader in serving science, today reported its financial results for the first quarter ended April 2, 2011. Adjusted earnings per share (EPS) grew 12% to a record $0.92. Revenues grew 4% to a record $2.72 billion. Adjusted operating margin increased 30 basis points to 17.6%. Launched new innovative software and instrumentation at Pittcon to broaden life sciences, environmental and safety applications. Accelerated investment in emerging markets with plans to build new manufacturing facility in China to serve local life sciences customers. Spent $538 million to buy back 9.6 million shares. Authorized additional $750 million share repurchase program, with $700 million remaining at quarter end. Sold two laboratory-testing services businesses – Athena Diagnostics and Lancaster Laboratories – just after quarter end, resulting in total proceeds of $940 million.