NEW YORK (GenomeWeb News) - Thermo Fisher Scientific today reported a 12 percent drop in first-quarter revenues and a 35 percent fall in net profit as it lowered its guidance for full-year 2009 by $400 million.

"The tough economy had a significant impact on our results for the first quarter, particularly in our instrumentation and equipment businesses," Marijn Dekkers, president and CEO of the company, said in a statement. "Our customers are clearly delaying their capital purchases in the current environment."