Thermo Fisher Scientific Inc. Earnings: Net Income Declines for Two Quarters Straight

S&P 500 (NYSE:SPY) component Thermo Fisher Scientific Inc. (NYSE:TMO) reported its results for the fourth quarter. Thermo Fisher Scientific develops, manufactures and sells products to assist the pharmaceutical, biotechnology, academic, government and other research and industrial markets.

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Thermo Fisher Scientific Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for Thermo Fisher Scientific Inc. fell to $288.9 million (77 cents per share) vs. $297.5 million (75 cents per share) a year earlier. This is a decline of 2.9% from the year earlier quarter.

Revenue: Rose 12.7% to $3.13 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: TMO reported adjusted net income of $1.18 per share. By that measure, the company beat the mean estimate of $1.15 per share. Analysts were expecting revenue of $3.08 billion.

Quoting Management: “We were pleased to close 2011 on a strong note by delivering excellent revenue and earnings growth in the fourth quarter,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “This solid performance capped another successful year, highlighted by 20% growth in adjusted EPS.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 10.8% to $2.97 billion in the third quarter. The figure rose 9.4% in the second quarter from the year earlier and climbed 1.7% in the first quarter from the year-ago quarter.

The company has now seen net income fall in each of the last two quarters. In the third quarter, net income fell 1.2% from the year earlier quarter.

The company beat estimates last quarter after being in line with expectations in the third quarter with net income of $1.07 per share.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved up from $1.11 a share to $1.12 over the last seven days. The average estimate hasn’t changed from $4.13 per share for the fiscal year.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com