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Thermo Fisher Posts 6 Percent Revenue Growth, Hints at Releases of New Mass Spec Products

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In a third-quarter earnings call this week, Thermo Fisher Scientific reported 6 percent revenue growth to $2.68 billion and hinted at upcoming releases of new mass spectrometry products.

Discussing R&D spending, CEO Marc Casper said that investors would "see new applications and new technologies and mass spec coming out." He later added, with regard to the company's mass spec business, that "we have leading technology, leading position, a great suite of new introductions… coming out."

Ron O'Brien, Thermo Fisher spokesperson, told ProteoMonitor, however, that the company had no new mass spec products it was ready to discuss.

Overall, the company's net income rose 21 percent to $268.5 million, or $0.66 per share, in the quarter from $221.2 million, or $0.53 per share, in Q3 2009. EPS on an adjusted basis was $0.90, compared to Wall Street estimates of $0.83 and to $0.78 a year ago.

The Analytical Technologies Segment posted third-quarter revenues of $1.16 billion, up 14 percent from $1.02 billion in the year-ago period, driven by what chief financial officer Peter Wilver cited as "especially strong growth in our mass spec, clinical diagnostics, and biosciences businesses."

The company spent $71.9 million on R&D, up 19 percent from $60.5 million a year ago. As of Oct. 2, the company had $930.2 million in cash and cash equivalents.

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