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Thermo Fisher: Life Technologies Synergy on Track Post Q2
Views: 2484 Author: Site Editor Publish Time: 2016-06-17 Origin: Site
Thermo Fisher reported abetter-than-expected second-quarter 2015 with adjusted EPS and revenuesexceeding the respective Zacks Consensus Estimate. However, the top line wasaffected year over year by the impact of unfavorable foreign exchange rates anddivestitures. Despite that, Thermo Fisher increased its full-year 2015 revenueguidance reflecting strong operational performance as well as ample scope forimprovement even amid the present challenges.
According to the company, it is on track todeliver revenue and cost synergy targets from the Life Technologiesintegration. At the end of 2015, the company expects to deliver $130 millionworth of cost synergy benefits, a $5 million increase from the earlier targetprimarily because of accelerating realization of head count and sourcingsynergies. The company is also confident of its overall three-year synergytarget which had been raised from $300 million to $350 million.
