Thermo Fisher Scientific reports record-breaking 2011 performance

Thermo Fisher Scientific has achieved a record-breaking financial performance in 2011, with revenues growing by 11 percent year on year to $11.73 billion (7.43 billion pounds).

The company's double-digit growth was driven in large part by its strong fourth-quarter performance, during which it generated $3.13 billion in sales thanks to the positive impact of the recent acquisitions of Phadia and Dionex.

Earnings during the year rose to record levels and full-year free cash flow levels stood at $1.42 billion, with the Asia-Pacific region noted as a particularly strong driver of growth.

In addition to strengthening its chromatography and immunodiagnostics presence via the Dionex and Phadia takeovers, Thermo Fisher was also able to successfully launch significant new mass spectrometry, specialty diagnostics and laboratory equipment products.

Marc Casper, president and chief executive officer of Thermo Fisher Scientific, said: "We were pleased to close 2011 on a strong note by delivering excellent revenue and earnings growth in the fourth quarter."

Last month, the company announced the launch of Unity Lab Services, a product and laboratory support service for life science facilities.