A good sign for here?
Thermo Electron Raises 2005 Outlook
Tuesday May 17, 7:57 am ET
Thermo Electron Lifts Forecast for 2005 Earnings by 7 Cents Per Share
WALTHAM, Mass. (AP) -- Thermo Electron Corp., a leading maker of electronic measurement equipment, on Tuesday raised its 2005 earnings forecast for the second time in three weeks, as the company reaps the benefits of an expanded lineup of products and services.
Thermo Electron, which also makes laboratory gear and other scientific instruments, raised its full-year forecast by 7 cents per share, and now expects earnings of $1.49 to $1.54 per share, on projected revenue of $2.65 to $2.69 billion.
The forecast excludes expenses from amortization of acquisition-related intangible assets.
Wall Street's consensus forecast for this year is $1.49, the average estimate of seven analysts surveyed by Thomson Financial, on revenue of $2.45 million.
Thermo Electron said it is aiming for double-digit revenue and earnings growth between now and 2007 as it expands its products and services for customers' laboratory and online manufacturing applications.
Last month, the company announced first quarter earnings, excluding restructuring and other items, that topped analysts' expectations by 4 cents per share as revenue rose 7 percent. At that time, the company forecast full-year earnings of $1.42 to $1.47 per share, up 2 cents from previous guidance. |
