Thermo Fisher beats estimates

Scientific instrument maker Thermo Fisher Scientific Inc. said its profit rose 1 percent in the third quarter as it put less money aside to pay taxes.

For the quarter ended Sept. 26, the Waltham company said it earned $221.2 million, or 53 cents per share, compared with $218.1 million, or 50 cents per share, a year ago. Excluding one-time costs, Thermo Fisher reported a profit of 78 cents per share. Analysts were expecting 75 cents per share.

Revenue fell 2 percent, to $2.53 billion from $2.59 billion. Analytical technologies revenue slipped 6 percent to $1.02 billion, and laboratory products and services revenue edged up 1 percent to $1.63 billion.

Wall Street had forecast $2.51 billion in total revenue.

Thermo Fisher’s costs held relatively steady, but the company said it set aside $24.7 million for income taxes in the latest quarter, compared with $43.7 million a year ago.

Thermo Fisher also narrowed its profit and revenue forecasts for the year. Its views remained similar to analyst expectations.

Raytheon Co. said yesterday that its profit rose in the third quarter on increased demand for the defense contractor’s Patriot missile by foreign governments, and for its soldier training programs.

The Waltham company, whose products include missiles, sensors, and radar systems, lifted its earnings guidance range for the rest of the year, but offered an outlook for 2010 weaker than Wall Street’s forecast.

While the 2010 forecast was below analysts’ estimates, it didn’t seem to concern investors. Raytheon appears poised to be on track for a solid performance this year, and beyond, as international sales drive growth.

International sales hit a record in the quarter and the company anticipates that in 2009, sales outside of the United States will rise as much as 22 percent above last year’s level, the company said during a conference call with investors and analysts.

In the third quarter, Raytheon’s net income rose 15 percent to $490 million, or $1.25 per share, from $427 million, or $1.01 per share, a year earlier. Earnings from continuing operations rose to $499 million from $437 million.

Analysts expected profit of $1.16 per share, on average. Per-share results were aided by the company’s stock buyback program. It repurchased 6.4 million shares in the quarter.

Revenue grew 6 percent to $6.21 billion, from $5.86 billion, led by its technical services division due to strong demand for its soldier training programs.

EMC Corp., the world’s biggest maker of storage computers, reported a 24 percent drop in third-quarter profit and signaled demand for its machines isn’t recovering as fast as some investors had anticipated.

Net income fell to $298.2 million, or 14 cents a share, from $393.4 million, or 19 cents, a year earlier, EMC said yesterday. Sales declined 5.3 percent to $3.52 billion.

EMC’s revenue has fallen for three straight quarters as customers save money to cope with the recession. Worldwide spending on technology will decline 8 percent this year, Goldman Sachs Group predicted. Hopkinton-based EMC projected sales of $4 billion for this quarter, little changed from the $4.02 billion in the year-earlier period.

Profit, excluding some costs, was 23 cents a share. That compares with 21 cents predicted by analysts on average in a Bloomberg survey.

NStar, a Boston-based utility, reported earnings of $87.6 million, or 82 cents a share, for the third quarter, compared with $85.8 million, or 80 cents per share a year ago.

“Electric sales declined by 3.5 percent for the quarter as a result of an unseasonably mild summer this year,’’ the company said. “Cooling degree days for Boston in the third quarter were 11 percent below last year and 14 percent below normal.’’

The company said it is maintaining its earnings guidance of between $2.33 and $2.43 per share for 2009.

McDonald’s Inc., a notable winner from the recession because of its cheap menu items, cautioned that it would post disappointing US sales figures in October.

That first hint of weakness from a company that’s managed to thrive as its competitors falter came as it posted a solid 6 percent profit increase.

But McDonald’s strong recession performance continued in the third quarter when profit climbed to $1.26 billion, or $1.15 per share.

McDonald’s said sales in restaurants open at least a year rose 3.8 percent.

Third-quarter profit was better than Wall Street forecasts, even though the fast-food company’s revenue fell shy of expectations. Analysts expected the restaurant chain to earn $1.11 per share on revenue of nearly $6.1 billion.