Thermo Fisher Scientific reports profit rise

Thermo Fisher Scientific Inc., a Waltham-based manufacturer of scientific instruments and laboratory supplies, today reported a small third-quarter profit increase despite lower demand late in the period.

The company posted net income of $221.5 million, or 51 cents per share, compared with $218.5 million, or 49 cents per share, in the same period last year. Excluding restructuring costs, amortization of intangible assets and discontinued operations, the company posted earnings per share of 76 cents, compared with 65 cents in the same period a year earlier.

Analysts surveyed by Thomson Reuters expected earnings per share of 76 cents.

Revenue for the three months ended Sept. 27 was $2.59 billion, up nearly 8 percent from $2.4 billion in the same quarter last year.

Marijn E. Dekkers, president and chief executive, said demand softened toward the end of the quarter, but Thermo Fisher is "carefully managing" costs while continuing to invest in new technologies, markets and commercial capabilities.

"These strengths, combined with our extremely healthy balance sheet and strong cash flow, put us in a better position than most to weather economic headwinds and build on our industry leadership," he said. (AP)