July 24, 2019 / 10:04 AM / a month ago

Thermo Fisher raises full-year forecasts as life sciences drives quarterly profit

July 24 (Reuters) - Thermo Fisher Scientific Inc reported second-quarter profit that beat Wall Street estimates and raised its 2019 forecast for sales and profit on Wednesday, helped by a 9% rise in sales at its life sciences unit.

The world's largest scientific instruments maker forecast full-year adjusted earning per share between $12.16 and $12.26, from a range of $12.08 to $12.22.

Revenue at the company's life sciences solutions unit, which makes tools and compounds used in medical research, rose to $1.71 billion, from $1.57 billion a year ago, beating analysts' estimates of $1.65 billion, according to four analysts polled by Refinitiv.

Excluding items, the company earned $3.04 per share in the quarter ended June 29, above analysts' estimates of $3 per share.

Thermo Fisher's quarterly sales rose 4% to $6.32 billion, ahead of analysts' estimates of $6.30 billion.

An outage at one of its data centers caused delays in processing orders and shipments, hitting organic revenue growth by about 1% in the quarter, Thermo Fisher said.

The company said quarterly net income rose nearly 50% to $1.12 billion, or $2.77 per share.

The company now forecasts full-year revenue between $25.30 billion and $25.50 billion, from a range of $25.17 billion to $25.47 billion. (Reporting by Manas Mishra in Bengaluru; Editing by James Emmanuel)

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