Thermo Fisher revenues up 13 percent for third quarter

Thermo Fisher Scientific has seen its revenue grow by 13 percent in the third quarter of 2011 – reaching a record $2.97 billion (1.84 billion pounds).

The firm's adjusted earnings per share (EPS) rose by an even more impressive 23 percent. At 1.07 dollars, the EPS was also at a record high.

Marc Casper, president and chief executive of Thermo Fisher Scientific, said the company was extremely pleased with its strong performance in spite of the challenging economic conditions it was operating in.

He said: "Our investments in new products and emerging markets are clearly paying off."

Mr Casper added that the firm also managed to strengthen its market-leading laboratory equipment offering with the new ultra-low temperature freezer platform – one of many innovations showcased at the annual American Association of Clinical Chemistry conference.

Earlier this month, Thermo Fisher Scientific launched a new financial reporting operation dubbed Specialty Diagnostics, which consists of five separate businesses including the recently acquired Phadia.