Thermo Fisher Scientific, Inc. (TMO) recently completed the acquisition of Ahura Scientific for $145 million in cash plus the potential for an earn-out payment based on the achievement of certain 2010 financial targets.
Thermo Fisher has now decided to integrate Ahura into its Analytical Technologies Segment. Ahura Scientific is a leader in handheld Raman and FT-IR (Fourier-transform infrared) spectroscopy instruments that are used globally in the identification of chemicals for safety, security and pharmaceutical applications. The company generated fiscal 2009 revenues of roughly $45 million.
The Ahura acquisition will expand Thermo Fisher’s client base that will cater to the company’s top-line growth. Thermo fisher recently reported fourth quarter and full fiscal 2009 results.
For the fourth quarter, earnings per share was 91 cents, surpassing the Zacks Consensus Estimate of 88 cents and the year-ago earnings of 87 cents. For fiscal 2009, earnings per share was $3.05, compared to the Zacks Consensus Estimate of $3.02 and the year-ago earnings of $3.13.
Total revenues in the fourth quarter increased 7% year over year to a record $2.84 billion. Growth was fueled by acquisitions and a favorable foreign currency translation. Analytical Technologies revenues increased 5% year over year to $1.19 billion. Laboratory Products and Services revenues increased 9% year over year to $1.77 billion. The company follows the practice of reporting inter-segment revenues, which were a negative $126.8 million in the reported quarter.
Headquartered in Waltham, Massachusetts, Thermo Fisher Scientific Inc. is a scientific instrument maker and a world leader in serving science. The company was formed through the merger of Thermo Electron Corporation with Fisher Scientific International Inc. in November 2006. Thermo Fisher Scientific serves its customers through two principal brands, Thermo Scientific and Fisher Scientific.
Currently, we have a ‘Neutral’ recommendation for Thermo Fisher.
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