NEW YORK (GenomeWeb News) – Thermo Fisher Scientific today said that it has formed a new reporting segment for its specialty diagnostics operations.
The firm will now have three financial reporting units: Analytical Technologies, Specialty Diagnostics, and Laboratory Products and Services. The firm formerly reported under two segments: Analytical Technologies and Laboratory Products and Services.
"Following our acquisition of Phadia, our Specialty Diagnostics business has significant scale — with more than $2 billion in revenues— and greater access to a number of high-growth end markets," Thermo Fisher Scientific President and CEO Marc Casper said in a statement. "Our new reporting structure provides investors with better visibility into our company."
The Specialty Diagnostics segment contains five businesses — anatomical pathology, clinical diagnostics, and microbiology, which all were previously part of the Analytical Technologies Segment; immunoDiagnostics (formerly Phadia); and the healthcare market channel, which was part of the Laboratory Products and Services segment.
Thermo Fisher also provided certain historical financial results reflecting the new segment reporting structure.
For the second quarter ended July 2, 2011, Thermo would have reported revenues of $929.2 million for the Analytical Technologies segment, $569.5 million for Specialty Diagnostics, and $1.53 billion for Laboratory Products and Services. When it reported its Q2 results in late July, Thermo posted revenues of $1.28 billion for the Analytical Technologies segment and $1.76 billion for its Laboratory Products and Services segment.