Thermo Fisher Scientific Q4 Profit Increases, beats estimates

(RTTNews) - Thermo Fisher Scientific (TMO) released a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $1.63 billion, or $4.20 per share. This compares with $1.58 billion, or $4.01 per share, in last year's fourth quarter.

Excluding items, Thermo Fisher Scientific reported adjusted earnings of $2.20 billion or $5.67 per share for the period.

Analysts on average had expected the company to earn $5.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.9% to $10.89 billion from $11.45 billion last year.

Thermo Fisher Scientific earnings at a glance (GAAP) :

-Earnings (Q4): $1.63 Bln. vs. $1.58 Bln. last year. -EPS (Q4): $4.20 vs. $4.01 last year. -Analyst Estimate: $5.64 -Revenue (Q4): $10.89 Bln vs. $11.45 Bln last year.