Acquisition boosts Thermo Fisher

Thermo Fisher Scientific Inc., a maker of scientific instruments and laboratory supplies, reported fourth-quarter results and a 2008 forecast that surpassed Wall Street expectations. A November 2006 acquisition that more than doubled the size of the Waltham company boosted results for the October-December period.

Net income soared to $239.8 million, or 54 cents per share, from $25.3 million, or 8 cents per share, in the same quarter a year ago, when profit was hurt by a $125 million charge tied to the $10.6 billion acquisition of Fisher Scientific.

The acquisition helped boost revenue 57 percent to $2.62 billion from $1.67 billion, beating the consensus estimate of analysts surveyed by Thomson Financial, who expected $2.51 billion.

Had the former Thermo Electron and Fisher Scientific been combined for the entire fourth quarter of 2006, the revenue gain was a more modest 12 percent.

On that basis, and excluding one-time expenses and gains in both comparison quarters, Thermo Fisher's profit in the latest quarter grew to 76 cents per share, above analysts' estimate of 69 cents per share. (AP)

Sara Lee Corp., the maker of its namesake cakes and Jimmy Dean sausage, reported a second-quarter profit that missed some analysts' estimates as soaring wheat prices increased costs.

Net income was $182 million, or 25 cents a share, compared to a loss of $62 million, or 8 cents a share, in the year-ago period. Revenue climbed nearly 10 percent to $3.49 billion. Sara Lee maintained its profit forecast for the rest of the year, excluding the impact of a decline in the US dollar and lower taxes and interest payments. (Bloomberg)

Akamai Technologies Inc., the Cambridge provider of technology for distribution of digital media, said yesterday its fourth-quarter profit jumped on greater use of online video content.

Profit rose 74 percent to $35.9 million, or 20 cents per share, from $20.6 million, or 12 cents per share, in the year-ago period.

Sales rose 46 percent to $183.2 million from $125.7 million.

Analysts polled by Thomson Financial expected profit of 37 cents per share on sales of $174.6 million. Analyst estimates typically exclude one-time items.

For the full year, profit rose 76 percent to $101 million, or 56 cents per share, compared with $57.4 million, or 34 cents per share, in 2006.

Full-year sales rose 48.5 percent to $636.4 million from $428.7 million. (AP)

McClatchy Co. swung to a fourth-quarter profit from a loss a year ago, but the newspaper publisher continued to be buffeted by a severe housing slump in California and Florida.

The company said it would take an accounting charge to reflect further declines in its stock price.

McClatchy, the third-largest US newspaper publisher by circulation, said the advertising outlook for 2008 wasn't any better, and now expects first-quarter advertising to decline in the low double-digit percentage range. Preliminary net income was $30.1 million compared with a loss of $279.3 million, or $3.40 a share, in the same period a year earlier.

That included losses from the Minneapolis Star Tribune, which McClatchy has since sold.

The latest figures did not include an expected noncash impairment charge, which McClatchy said it would disclose when it submits its annual regulatory filing. (AP)

Cisco Systems Inc., the biggest maker of computer networking equipment, posted a second-quarter profit that met analysts' estimates on gains in Europe and Asia. Net climbed 7.2 percent to $2.06 billion, or 33 cents a share, from $1.92 billion, or 31 cents, a year ago.

Excluding costs such as stock-based compensation, profit was 38 cents, matching the average of estimates compiled by Bloomberg. Revenue rose to $9.83 billion.

The results may ease concern that slowing US economic growth is cutting into sales at Cisco, which added customers in Belgium, China, and South Korea. Before yesterday, the stock had dropped 29 percent since November. (Bloomberg)