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Portfolio: ThermoFisher Scientific

Portfolio: ThermoFisher Scientific

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A weekly report compiled from the proxy statement and annual report of a publicly
held company with local headquarters or a company with a major division in the area

Based in Waltham, Mass., Thermo Fisher Scientific International Inc. is a manufacturer and supplier of products and services to the scientific-research and clinical laboratory markets. Formerly Fisher Scientific International Inc., Thermo Fisher Scientific was created in November 2006 when Fisher Scientific International merged with Thermo Electron Corp. The company serves more than 350,000 customers in pharmaceutical and biotechnology companies; hospitals and clinical diagnostic labs; universities; research institutions and government agencies, as well as environmental, industrial quality and process control settings. Thermo Fisher Scientific?s product offerings include analytical instruments; equipment; reagents and consumables; and software and services for research, analysis, discovery and diagnostics. The company?s operations are divided into two segments: analytical technologies and laboratory products and services.
Earlier this month, the company acquired the Analytical Technologies and Environment Instrumentation divisions of Chemito Technologies Pvt. Ltd., a supplier of analytical instruments based in Mumbai, India. In December 2007, the company acquired La-Pha-Pack, a German manufacturer and provider of chromatography consumables and related accessories.
The company has approximately 33,000 employees worldwide. Thermo Fisher Scientific?s local operation, Nalge Nunc International Inc., employs some 950 people and manufactures plastic products for use in labware, packaging, environmental, biotech and life science applications.
Total sales for fiscal 2007 were $9.7 billion, an increase over fiscal year 2006. Net income was $761 million, compared to $169 million the previous year. Net income per share was $1.72, up $0.90 from the prior year?s net income. The company spent $239 million on research and development in 2007, a 40.6 percent increase over $170 million in 2006. Net cash provided by operating activities was $1.5 billion; net cash used in investing activities was $586 million; and net cash used in financing activities was $929 million.
The company?s most recent fiscal year ended on Dec. 31.

Common shares outstanding on June 13 418,209,000
Price per share of common stock on June 13 $58.71
Total market value on June 13 $24,553,050,390
Controlled by all directors and officers as a group 2,906,1401
(0.7 percent)

Performance Record
(Dollars in millions except per-share data)
2008 2006 2005 2004 2003
Total revenue $9,746 $3,792 $2,633 $2,206 $1,899
Net income 761 169 223 362 200
Net income per share 1.72 0.82 1.21 1.31 1.05
Total assets 21,207 21,262 4,252 3,577 3,390
Stockholders? equity 14,488 13,912 2,793 2,666 2,382
Operating cash flow (loss) 1,485 406 271 265 215
Investing cash flow (loss) (586) 283 (753) 34 308
Financing cash flow (loss) (929) (260) 391 (183) (664)

Directors Number of common shares1
Marijn Dekkers, 50, president and CEO 808,554
Jim Manzi, 56, chairman, Stonegate Capital Partners LLC 270,275
Scott Sperling, 50, co-president, Thomas H. Lee Partners L.P. 84,606
Michael Porter, 60, professor, Harvard University 71,144
Elaine Ullian, 60, president and CEO, Boston Medical Center 51,951
Bruce Koepfgen, 55, CEO, Oppenheimer Capital 49,200
Peter Manning, 69 35,300
Stephen Kaufman, 66, senior lecturer of business administration,
Harvard Business School 1,000
Michael Bell, 52, managing director, Monitor Clipper Partners Inc. 478

Executive Compensation
Officer 2007 cash compensation2
Marijn Dekkers, president and CEO $75,499,475
Marc Casper, executive vice president 11,683,152
Seth Hoogasian, senior vice president, general counsel and secretary 9,194,339
Peter Wilver, senior vice president and chief financial officer 9,074,332
Alan Malus, senior vice president 5,001,475
Above executive officers as a group $110,452,773

1Includes shares that may be acquired by exercising stock options, shares held in trusts and shares over which investment power may be shared
2Includes salary, bonuses, other annual compensation and value realized from stock options exercised

Researched by Julia Dickinson

06/20/08 (C) Rochester Business Journal