Thermo Fisher Profits Rise
Thermo Fisher Scientific, an analytical instrument and laboratory product manufacturer with operations in Milford and Franklin, saw its revenue and profit rise in its first quarter, the Waltham-based company reported this morning.
Revenue totaled $3.1 billion for the quarter, up nearly $379 million from the first quarter of 2011.
The company netted $277.3 million in profit, an increase of 10 percent over $252.2 million a year ago.
Its laboratory products and services segment remains the largest, bringing in $1.5 billion, up from $1.4 billion. But its analytical instruments segment saw a healthy revenue bump, from $830.2 million to $1 billion for the quarter.
Marc Casper, Thermo Fisher's president and CEO, said in a statement that a number of new products launched during the quarter helped drive revenue growth in those segments.
The company bought back $300 million of its shares during the quarter and also issued its first quarterly dividend.
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