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WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, has completed its previously announced acquisition of One Lambda, Inc., the leader in transplant diagnostics. Based in Canoga Park, Calif., One Lambda has approximately 320 employees and had 2011 revenue of $182 million. The business will become part of Thermo Fisher’s Specialty Diagnostics Segment.
“We are pleased to welcome One Lambda to our team and significantly increase our access to the attractive transplant diagnostics market,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “One Lambda’s tests for tissue typing and antibody detection complement our existing immunosuppressant assays, allowing us to offer a broad menu of tests across the transplant-testing workflow. We are excited about this combination and the opportunities it presents to ultimately improve the lives of transplant patients.”
Thermo Fisher reiterated its expectation that the One Lambda transaction will be accretive to 2012 adjusted earnings per share (EPS) and that it will add $0.09 to $0.11 to the company’s 2013 adjusted EPS results. Based upon the timing of the close, the transaction will have an immaterial impact on Thermo Fisher’s third quarter adjusted EPS. The company will provide updated guidance for 2012 when it reports its third quarter 2012 financial results.
Use of Non-GAAP Financial Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including adjusted EPS, which excludes restructuring and other costs/income and amortization of acquisition-related intangible assets, certain other gains and losses, tax provisions/benefits related to the previous items, benefits from tax credit carryforwards, the impact of significant tax audits or events and discontinued operations. We exclude the above items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods. We believe that the use of non-GAAP measures helps investors to gain a better understanding of our core operating results and future prospects, consistent with how management measures and forecasts the company's performance, especially when comparing such results to previous periods or forecasts.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE:TMO) is the world leader in serving science. Our mission is to enable our customers to make the world healthier, cleaner and safer. With revenues of $12 billion, we have approximately 39,000 employees and serve customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as in environmental and process control industries. We create value for our key stakeholders through three premier brands, Thermo Scientific, Fisher Scientific and Unity™ Lab Services, which offer a unique combination of innovative technologies, convenient purchasing options and a single solution for laboratory operations management. Our products and services help our customers solve complex analytical challenges, improve patient diagnostics and increase laboratory productivity. Visit www.thermofisher.com.
Safe Harbor Statement
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, under the caption “Risk Factors,” which is on file with the Securities and Exchange Commission and available in the “Investors” section of our website under the heading “SEC Filings.” Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the need to develop new products and adapt to significant technological change; implementation of strategies for improving growth; general worldwide economic conditions, and related uncertainties; dependence on customers' capital spending policies and government funding policies; the effect of exchange rate fluctuations on international operations; the effect of healthcare reform legislation; use and protection of intellectual property; the effect of changes in governmental regulations; and the effect of laws and regulations governing government contracts, as well as the possibility that expected benefits related to the acquisition of One Lambda may not materialize as expected; and the parties being unable to successfully implement integration strategies. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.
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