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Thermo Fisher Q4 results top expectations on Life Tech buy

An employee uses a Thermo Fisher Scientific Inc. X Series 2 inductively coupled plasma mass spectrometry machine to analyze copper concentrate samples inside the Central Geological Laboratory in Ulaanbaatar, Mongolia.
Brent Lewin | Bloomberg | Getty Images
An employee uses a Thermo Fisher Scientific Inc. X Series 2 inductively coupled plasma mass spectrometry machine to analyze copper concentrate samples inside the Central Geological Laboratory in Ulaanbaatar, Mongolia.

Thermo Fisher Scientific, the world's largest maker of scientific instruments, reported better-than-expected quarterly profit and sales, boosted by the contribution from the Life Technologies acquisition.

Thermo Fisher said net profit rose to $601.2 million, or $1.49 per share, in the fourth quarter from $342.1 million, or 92 cents a share, a year earlier.

Excluding items, Thermo Fisher earned $1.99 per share. Analysts on average had expected $1.94, according to Thomson Reuters I/B/E/S.

Revenue jumped 30 percent to $4.49 billion, topping Wall Street's average estimate of $4.38 billion.

With the addition of Life Tech business, Thermo Fisher's life sciences business reported a surge in sales to $1.19 billion, compared with $192 million a year earlier.

The business provides reagents, instruments and consumables used in biological and medical research.

The company's other three businesses reported sales growth of 2 percent to 4 percent.

The purchase of Life Tech for more than $13 billion was completed in early 2014.

Thermo Fisher, which paid down $3.8 billion of debt in 2014 related to the Life purchase, said it was on track to achieve $300 million in cost saving synergies in year three.

Thermo was due to provide its financial forecasts for 2015 later on Thursday during a conference call with analysts.