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Fisher s Organic Revenues Grow 3 Percent in Q1, Though Total Receipts Surge 35 Percent

NEW YORK, May 10 (GenomeWeb News) - Fisher Scientific yesterday reported 3-percent year-over-year organic revenue growth in the first quarter, amid overall revenue growth of 35 percent.

 

Fisher's total revenues for the first quarter increased to $1.35 billion from $1 billion in the same period in 2004. Excluding foreign currency exchange benefits, the company's Q1 sales were $1.34 billion.

 

Revenues from scientific products and services excluding foreign currency benefits increased 31 percent to $970.7 million. However, the company said that approximately 2 percent of this revenue growth was organic.

 

For healthcare products and services, Fisher reported sales of $335.8 million after foreign currency benefits, up 48 percent from the prior year's quarter. However, approximately 5 percent of this increase was organic, according to Fisher.

 

Fisher's revenues for its laboratory-workstations segment increased 21 percent to $46.3 million. Fisher did not break out organic growth for this segment.

 

The company's Q1 net income increased to $77 million, or $.64 per basic share, from $34.6 million, or $.54 per basic share in the first quarter last year.

 

As of March 31, Fisher had $237 million in cash and cash equivalents on hand.

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