Item 2.02 Results of Operations and Financial Condition
As previously announced, Marc N. Casper, Chairman, President and Chief Executive
Officer of Thermo Fisher Scientific Inc. (the "Company"), will present virtually
today at the 39th Annual J.P. Morgan Healthcare Conference. Among other topics,
Mr. Casper will provide the Company's current perspective on the impact of the
COVID-19 pandemic and an update on expected revenue growth. Based on currently
available information, the Company now expects fourth quarter reported and
organic revenue1 growth of approximately 50%, compared to the expected fourth
quarter organic revenue growth of 40% that the Company provided on December 1,
2020, when Mr. Casper participated in a virtual fireside chat at the Evercore
ISI HealthCONx Conference. This would translate to full year 2020 reported and
organic revenue growth of approximately 25%, compared to the expected full year
2020 organic revenue growth of approximately 22% that the Company also provided
on December 1, 2020. Details will be provided on the Company's earnings
conference call for the fourth quarter and full year 2020 on February 1, 2021.
The information contained in Item 2.02 of this Form 8-K shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the
"Exchange Act") or otherwise subject to the liabilities of that section, nor
shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933 or the Exchange Act, except as expressly set forth by specific
reference in such a filing.
Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K and today's presentation contain forward-looking
statements that involve a number of risks and uncertainties, including
statements about fourth quarter revenue and impacts of the COVID-19 pandemic.
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 most recent annual report on Form 10-K and subsequent quarterly
reports on Form 10-Q, which are on file with the Securities and Exchange
Commission and available in the "Investors" section of its 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 duration and severity of the COVID-19
pandemic; the need to develop new products and adapt to significant
technological change; implementation of strategies for improving growth; general
economic conditions and related uncertainties; dependence on customers' capital
spending policies and government funding policies; the effect of economic and
political conditions and exchange rate fluctuations on international operations;
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 recent or pending acquisitions may not materialize as expected. 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 our estimates change and,
therefore, you should not rely on these forward-looking statements as
representing our views as of any date subsequent to the date of this Current
Report on Form 8-K.
1 Organic revenue is reported revenue excluding the impact of acquisitions and
divestitures and foreign currency translation. We are unable to reconcile
organic revenue to reported revenue because the timing and amount of these items
are uncertain and could be material to Thermo Fisher's reported results.
2
--------------------------------------------------------------------------------
THERMO FISHER SCIENTIFIC INC.
© Edgar Online, source Glimpses