By Will Feuer


Thermo Fisher Scientific Inc.'s first-quarter sales rose even as higher costs weighed on its profit.

The Waltham, Mass.-based scientific-equipment company recorded first-quarter net income of $2.22 billion, compared with $2.34 billion a year earlier. Per-share earnings were $5.61 a share, compared with $5.88 a share.

Stripping one-time items, adjusted earnings were $7.25 a share. Analysts surveyed by FactSet were expecting adjusted earnings of $6.22 a share.

Revenue rose to $11.82 billion from $9.91 billion. Analysts were looking for sales of $10.69 billion, according to FactSet.

Core organic sales grew 16%, Thermo Fisher said. Revenue from the Covid-19 testing added $1.68 billion.

Cost of sales rose to $6.21 billion from $4.56 billion.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

04-28-22 0632ET