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Thermo Fisher Predicts Strong H2 Sales of New Mass Specs as Q2 Revenues Rise 12 Percent

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Calling the company's showing at June's American Society for Mass Spectrometry annual meeting its "strongest yet" Thermo Fisher Scientific CEO Marc Casper said interest in its new Velos Pro, Orbitrap Elite, and Q-Exactive mass spectrometers "bodes well for a meaningful contribution" by these products to the company's sales numbers in the second half of 2011.

Speaking during a call to discuss Thermo Fisher's second-quarter numbers, Casper said the new instruments have generated "the largest number of demo requests that we can remember for any products we have launched."

In particular, he noted, demo demands have been heavy for the Q-Exactive, which, combining a quadrupole for precursor selection with an Orbitrap mass analyzer, represents Thermo Fisher's first entry into the $250 million Q-TOF market (PM 06/10/2011).

The instruments, Casper said, began shipping in Q2, but their impact on that quarter "was immaterial."

For the quarter Thermo Fisher's revenues grew 12 percent to $2.9 billion, up from $2.6 billion a year ago. Net income of $523.4 million, or $1.36 per share, for the quarter was up 121 percent from $237.3 million, or $.57 per share, a year ago.

During the quarter, the company closed on its $2.1 billion buy of Dionex. Dionex contributed a little more than 2 percentage points to the company's overall revenue growth for the three months ended July 2, said CFO Peter Wilver.

The firm's R&D spending reached $83.3 million during the second quarter, up 20 percent from $69.6 million a year ago. Its SG&A spending rose 17 percent to $665.6 million from $566.8 million a year ago.

As of July 2, Thermo Fisher had $1.36 billion in cash and cash equivalents.

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