Fisher posts record second quarter
On the heels of announcing a planned merger with Thermo Electron Corporation Hampton-based Fisher Scientific recorded record sales and earnings for the second quarter of 2006.
Sales for the quarter ending June 30, 2006, were $1.47 billion, an increase of over 9 percent from the second quarter of 2005, which closed at $1.34 billion.
Second quarter income from continuing operations increased nearly 42 percent to $121.4 million, or 92 cents per diluted share, from $85.6 million, or 67 cents per share, for the same quarter a year ago.
Diluted earnings per share from continuing operations increased by 20.9 percent to $1.10 in the second quarter, compared with 91 cents in the same quarter of 2005.
Six-month results for the life sciences manufacturer also looked strong with sales totaling $2.9 billion, an 8.6 percent increase over sales of $2.7 billion in the same period last year. Income from continuing operations for the first six months was $227.6 million, or $1.74 per diluted share, compared with $161.6 million, or $1.28 per diluted share the same period in 2005.
On May 8, Fisher and Waltham, Mass.-based Thermo Electron, a manufacturer of analytical instrumentation, entered into a definitive agreement to merge the two companies. The new company will be named Thermo Fisher Scientific Inc. and will be headquartered in Waltham, with anticipated 2007 revenues of more than $9 billion.
The merger is expected to close during the fourth quarter of 2006. — CINDY KIBBE