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Acquisitions Fuel 21-Percent Revenue Growth for Thermo Electron in Q4; LLS Receipts Surge 24 Percent

NEW YORK, Feb. 2 (GenomeWeb News) - Thermo Electron today said that fourth-quarter revenue for its Life and Laboratory Sciences division increased 24 percent, while acquisitions caused overall receipts for the company to grow 21 percent.

 

Total receipts for the LLS segment during the three months ended Dec. 31 increased to $563 million from $455 million year over year.

 

Companywide revenue increased to $741 million from $613 million in the year-ago period, though 19 percent of that growth was the result of acquisitions, Thermo said. Unfavorable currency translation cost the company 4 percent in revenue growth, the firm said.

 

"We experienced very strong growth from our industrial markets, especially in commodity materials and environmental monitoring," President and CEO Marijn Dekkers said in a statement. "In addition, growth from our life sciences customers continued at a good pace."

 

R&D spending in the fourth quarter increased 9 percent to $38 million from $35 million year over year, Thermo said.

 

Tax benefits tied to a divestiture last year caused profit in the period to decline 54 percent to $56 million, or $.34 per basic share, from $121 million, or $.53 per basic share, year over year. Absent that gain profit rose 29 percent.

 

Thermo said it had around $214 million in cash and equivalents and $80 million in short-term investments as of Dec. 31.

 

Looking ahead, Thermo said it expects total revenue in 2006 to grow between 6 percent and 8 percent year over year to between $2.78 billion and $2.83 billion.

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