Corporate Banner
Satellite Banner
Scientific Community
Become a Member | Sign in
Home>News>This Article

Thermo Reports 6% Q4 Revenue Growth

Published: Friday, January 31, 2014
Last Updated: Friday, January 31, 2014
Bookmark and Share
Thermo Fisher Scientific Inc. reported its financial results for the fourth quarter and full year ended December 31, 2013.

Fourth Quarter and Full Year 2013 Highlights

  • Grew full year adjusted earnings per share (EPS) by 10% to a record $5.42, and fourth quarter adjusted EPS by 5% to a record $1.43.
  • Increased fourth quarter revenue by 6% to a record $3.47 billion.
  • Expanded adjusted operating margin in the fourth quarter by 40 basis points to 20.0%.
  • Generated free cash flow of $1.75 billion for the full year.
  • Launched innovative new Thermo Scientific products during the year to strengthen leading mass spectrometry, chromatography, specialty diagnostics and biosciences offerings, highlighted by the breakthrough Orbitrap Fusion Tribrid and new triple-quad platforms.
  • Achieved 20% growth in China for the year by leveraging investments to expand R&D, manufacturing and commercial capabilities, and delivered strong results in other high-growth markets, including Korea and Brazil.
  • Returned more than $300 million of capital to shareholders through stock buybacks and dividends.
  • Acquiring Life Technologies to add 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.

Adjusted EPS, adjusted operating income, adjusted operating margin and free cash flow are non-GAAP measures that exclude certain items detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”

“Our teams executed very well in the quarter to achieve outstanding results on both the top and bottom line,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “All three business segments reported solid growth, and drove productivity to deliver 40 basis points of adjusted operating margin expansion. Our excellent operating performance throughout 2013 extended our track record of delivering strong adjusted EPS growth, and led to a 10% increase for the full year.

“These results demonstrate the success of our growth strategy and our ability to further differentiate Thermo Fisher in the markets we serve. We strengthened our innovation leadership by launching new products across our portfolio for customers in research, bioproduction, specialty diagnostics and applied markets. We also leveraged our scale and depth of capabilities to help our customers in high-growth emerging markets respond to the need for better air quality, safer food supplies and growing demand for specialty diagnostics.

“Last, we look forward to completing our acquisition of Life Technologies, which will enhance our unique customer value proposition by broadening our product offering and adding another premier life sciences brand. We’re excited about the new opportunities we will have by combining our genomics, proteomics and specialty diagnostics technologies to help our customers accelerate results and improve human health.”

Fourth Quarter 2013
For the fourth quarter of 2013, adjusted EPS grew 5% to $1.43, versus $1.36 in the fourth quarter of 2012. Revenue for the quarter grew 6% to $3.47 billion in 2013, versus $3.26 billion in 2012. Organic revenue growth was also 6% as the effects of acquisitions and currency translation were immaterial. Adjusted operating income for the fourth quarter of 2013 increased 9% compared with the year-ago period, and adjusted operating margin expanded to 20.0%, compared with 19.6% in the fourth quarter of 2012.

GAAP diluted EPS for the fourth quarter of 2013 was $0.92, versus $1.04 in the same quarter last year. The 2012 period included a favorable impact related to a tax rate change in a foreign jurisdiction. GAAP operating income for the fourth quarter of 2013 increased 14% to $455 million, compared with $401 million in 2012. GAAP operating margin increased to 13.1%, compared with 12.3% in the fourth quarter of 2012.

Full Year 2013
For the full year 2013, adjusted EPS grew 10% to $5.42, versus $4.94 in 2012. Revenue for 2013 grew 5% to $13.09 billion, versus $12.51 billion a year ago. Organic revenue grew 3%; acquisitions increased revenue by 2% and currency translation had a nominal impact. Adjusted operating income for 2013 increased 7% compared with 2012, and adjusted operating margin expanded to 19.5%, compared with 19.0% a year ago.

GAAP diluted EPS for 2013 was $3.48, versus $3.21 in 2012. GAAP operating income for 2013 increased 9% to $1.61 billion, compared with $1.48 billion a year ago. GAAP operating margin increased to 12.3%, compared with 11.8% in 2012.

Annual Guidance for 2014
Casper added, “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.”

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.

The company’s 2014 guidance includes the results of Life Technologies from an assumed close date, and includes the results of the previously announced divestitures through an assumed sale date. The guidance does not include any other future acquisitions or divestitures and is based on current foreign exchange rates. The adjusted EPS estimate excludes amortization expense for acquisition-related intangible assets and certain other items detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”

Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,600+ scientific posters on ePosters
  • More than 3,800+ scientific videos on LabTube
  • 35 community eNewsletters

Sign In

Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Ebola Sequencing Data Released to Global Research Community Online
To curb further spread of Ebola in Sierra Leone, a team of scientists that is part of an international, multi-organizational effort has released their first dataset of the virus’ genetic structure online.
Wednesday, June 03, 2015
Thermo's NGS Platform Selected for Nationwide Clinical Research Program
National Cancer Institute-MATCH trial to sequence thousands of tumor samples using Ion Torrent targeted sequencing technology.
Monday, June 01, 2015
Thermo Fisher Q3 Revenues up 31 Percent
Thermo Fisher announced that revenues grew 31% to $4.17 billion for the third quarter ended September 27, 2014.
Thursday, October 23, 2014
Thermo Scientific Announces Listing of the Ion PGM Dx System
Company has completed the listing with the U.S. FDA as class II medical device.
Saturday, September 20, 2014
ATCC, CDC and Thermo Partner on Public Health RT-PCR Assay
New technology supports HIV-1 drug resistance surveillance in resource-limited countries.
Wednesday, June 25, 2014
Thermo Reports 22% Revenue Rise in Q1 2014
Results include the addition of Life Technologies as of February 4, 2014, and exclude the previously announced related divestitures as of March 22, 2014.
Wednesday, April 23, 2014
Thermo Completes Life Tech Acquisition
The completion of the transaction follows the receipt of all required regulatory approvals.
Tuesday, February 04, 2014
Thermo Receives EC Clearance for Life Tech Acquisition
Thermo Fisher Scientific announced that it has received approval from the European Commission (EC) for its pending acquisition of Life Technologies Corporation.
Tuesday, November 26, 2013
Thermo Fisher Scientific Opens Its First Dry Powder Media Facility in APAC Region
Singapore facility delivers manufacturing redundancy and increases supply assurance for global biologic drug discovery and production.
Tuesday, August 06, 2013
Record Revenues for Thermo Fisher Scientific
Revenue for the quarter grew 6% to $3.26 billion in 2012, versus $3.09 billion in 2011.
Thursday, January 31, 2013
Thermo Fisher Scientific Announces Application Deadlines for Life Sciences Scholarships
Thermo Scientific Pierce Scholarship Winter/Spring semester applications due December 14, 2012.
Wednesday, November 14, 2012
Thermo Fisher Scientific Expands Scientific Advisory Board
Dr. Klaus Lindpaintner to lead strategic development of innovative analytical technologies.
Thursday, November 08, 2012
Thermo Fisher Scientific Improves Cancer Diagnostics for West of Scotland Regional Cytogenetics Service
Thermo Scientific products improve automation and efficiency for cytogenetics department.
Tuesday, February 23, 2010
Thermo Fisher Scientific to Supply OPTEC LLC with Cancer Diagnostic Instrumentation as Part of National Oncological Program in Russia
Thermo Fisher Scientific, today announced a distribution partnership with OPTEC LLC, a provider of cutting-edge medical, surgical, microscopic and industrial metrology solutions in the territory of the Russian Federation and the CIS (Commonwealth of Independent States)
Wednesday, January 27, 2010
Thermo Fisher Scientific Names Recipients of RNAi Discovery Grants
More than $400,000 in RNAi screening tools awarded to advance biomedical research and drug discovery.
Friday, November 06, 2009
Scientific News
Chromosomal Chaos
Penn study forms basis for future precision medicine approaches for Sezary syndrome
Shaking Up the Foundations of Epigenetics
Researchers at the Centre for Genomic Regulation (CRG) and the University of Barcelona (UB) published a study that challenges some of the current beliefs about epigenetics.
Genetic Defences of Bacteria Don’t Aid Antibiotic Resistance
Genetic responses to the stresses caused by antibiotics don’t help bacteria to evolve a resistance to the medications, according to a new study by Oxford University researchers.
Tolerant Immune System Increases Cancer Risk
Researchers have found that individuals with high immunoCRIT ratios may have an increased risk of developing certain cancers.
Developing a Gel that Mimics Human Breast for Cancer Research
Scientists at the Universities of Manchester and Nottingham have been funded to develop a gel that will match many of the biological structures of human breast tissue, to advance cancer research and reduce animal testing.
Lung Repair and Regeneration Gene Discovered
New role for hedgehog gene offers better understanding of lung disease.
3 Ways Viruses Have Changed Science for the Better
Viruses are really good at what they do, and we’ve been able to harness their skills to learn about – and potentially improve – human health in several ways.
Mixed Up Cell Transportation Key Piece of ALS and Dementia Puzzle
Researchers from the University of Toronto are one step closer to solving this incredibly complex puzzle, offering hope for treatment.
New Gene Therapy for Vision Loss From a Mitochondrial Disease
NIH-funded study shows success in targeting mitochondrial DNA in mice.
Five New Genetic Variants Linked to Brain Cancer Identified
The biggest ever study of DNA from people with glioma – the most common form of brain cancer – has discovered five new genetic variants associated with the disease.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,600+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos