Thermo Fisher Scientific Inc. lowered its guidance for the full year after third-quarter sales dipped 2.2 percent and net income rose 1.4 percent.
The Waltham, Mass.-based lab instruments and supplies maker posted sales of $2.53 billion during the three months ended Sept. 26, compared with $2.59 billion during the same period last year. Net income rose to $221.2 million for the quarter, compared with $218.1 million during the the 2008 third quarter.
In his first quarterly earnings statement since taking the reins as president and CEO from Marijn Dekkers, Marc Casper said the results reflect the soft economy’s impact on capital equipment spending.
Casper said Thermo Fisher lowered its full-year sales forecast to $9.95 billion to $10.05 billion, down from $9.8 billion to $10.1 billion, which would be 4 percent to 5 percent less than full-year 2008 revenues.
The company also cut by its adjusted earnings-per-share guidance to $2.95-$3.05, compared with previous estimates of $2.85-$3.10, which would result in a 1 percent to 9 percent decline compared last year.