NEW YORK (GenomeWeb News) - Fisher Scientific yesterday reported a 10.8 percent increase in third-quarter sales and a 62 percent spike in income.
For the quarter ended Sept. 30, Fisher posted net sales of $1.51 billion as compared to $1.36 billion for the same quarter in 2005.
Net income increased to $152 million from $93.5 million last year.
Sales of scientific products and services in the third quarter increased to $1.17 billion, a 9.9 percent increase over the prior-year period, Fisher said.
As of Sept. 30, Fisher held $279 million in cash and equivalents.
Fisher is awaiting approval from the European Commission, which it expects by Nov. 9, to finalize its merger with Thermo Electron.
For 2006, Fisher said it expects total sales growth, excluding the effects of foreign exchange, of approximately 10 percent, with organic growth in its core scientific research and healthcare markets of 8 percent.