Scientific instrument maker Thermo Fisher Scientific Inc. said its profit rose 9 percent in the fourth quarter as lower costs offset a drop in revenue.
Thermo Fisher earned $297.5 million, or 75 cents per share, up from $273.3 million, or 65 cents per share, a year ago. Revenue fell 2 percent to $2.78 billion from $2.84 billion.
Excluding charges, earnings were $1 per share. Analysts polled by FactSet expected 95 cents per share in profit on $2.8 billion in revenue.
For the full year, the Waltham company earned $1.04 billion, or $2.53 per share, up from $850.3 million, or $2.01 per share, in 2009. Revenue rose to $10.79 billion from $10.11 billion.
The company expects 2011 adjusted profit between $4 and $4.10 per share on revenue between $11.33 billion and $11.45 billion. Analysts expect full-year profit of $4.05 per share on $11.55 billion in revenue.
Doll sales give lift to Mattel
Barbie, American Girl, and new Monster High dolls all sold strongly for Mattel during the quarter, sending revenue up 9 percent.
The growth outpaced the industry and likely its chief rival Hasbro, which earlier forecast a revenue decline for the quarter.
The nation’s largest toymaker said net income edged down to $325.2 million or 89 cents per share, from $328.4 million, or 89 cents per share last year. Last year’s quarter included a one-time tax benefit of 8 cents per share, however.
Analysts expected 86 cents per share, according to FactSet.
Revenue rose 9 percent to $2.12 billion. Analysts expected net income of $2.07 billion.
For the year, Mattel Inc., based in El Segundo, Calif., said net income rose 30 percent to $684.9 million, or $1.88 per share, while revenue rose 8 percent to $5.86 billion.
Sweet holiday for Hershey
Candy maker Hershey extended a string of impressive results, saying that its fourth-quarter profit rose nearly 7 percent as holiday shopping in the United States was brisk and growth accelerated in emerging markets.
The results met Wall Street’s expectations and the company raised its dividend.
The Hershey Co. reported net income of $135.5 million, or 59 cents per share, for the three months that ended Dec. 31. That’s up from $126.8 million, or 55 cents per share, a year earlier.
Hershey said its revenue rose 5.4 percent to $1.48 billion.
Excluding one-time items, it earned $140.4 million, or 61 cents per share. Both the revenue and adjusted earnings matched the average expectations of analysts.
For all of 2010, Hershey reported revenue of $5.67 billion, up 7 percent from 2009. Net income rose 17 percent to $509.8 million, or $2.21 per share, from $436 million, or $1.90 per share.
Analysts, who typically exclude one-time items, on average forecast earnings of $2.55 per share and revenue of $5.67 billion for 2010.