Thermo Fisher Scientific Inc lowered its full-year earnings and revenue forecast on Wednesday, citing weakness in academic and government markets and less favorable foreign exchange rates.The maker of scientific instruments, diagnostics and environmental testing equipment now expects 2011 earnings of $4.11 to $4.17 per share, down from its prior view of $4.15 to $4.25. It expects revenue of $11.62 billion to $11.70 billion, down from an earlier forecast of $11.79 billion to $11.89 billion."Similar to what we saw at the end of the third quarter, it appears that academic and government markets will continue to be challenging for the balance of the year," Chief Executive Officer Marc Casper said in a statement.Thermo posted a third-quarter net profit of $265.4 million, or 69 cents per share, compared with $268.5 million, or 66 cents per share, a year earlier.
Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO remained unchanged at $53.23. In the past year, the shares have traded as low as $47.17 and as high as $65.86. On average, 3762170 shares of TMO exchange hands on a given day and today's volume is recorded at 0.
