Printer Friendly

THERMO BIOANALYSIS CORPORATION REPORTS YEAR-END RESULTS

WALTHAM, Mass., March 11 /PRNewswire/ -- Thermo BioAnalysis Corporation, a majority-owned, privately held subsidiary of Thermo Instrument Systems Inc. (AMEX: THI), today reported that net income for the year ended December 30, 1995, increased to $2,525,000 on revenues of $22,534,000, compared with net income of $2,450,000 on revenues of $24,607,000 for 1994. Earnings per share were $.33 in 1995, versus $.38 last year, with weighted average shares in 1995 increasing to 7,694,000, compared with 6,500,000 a year ago.

"Our February 1996 acquisition of Dynatech Laboratories, which reported revenues in excess of $35 million for the fiscal year ended March 31, 1995, significantly expands our product line with the addition of immunoassay bioinstrumentation," said Barry S. Howe, president and chief executive officer of Thermo BioAnalysis. "Dynatech pioneered the development of Microtiter. technology, now the industry standard for immunological testing in clinical applications and in pharmaceutical and biopharmaceutical research."

Thermo BioAnalysis develops, manufactures, and sells instrumentation for the analytical biochemistry, biopharmaceutical, and health physics instrumentation markets. It comprises operations that specialize in capillary electrophoresis, matrix-assisted laser desorption/ionization time-of-flight mass spectrometry, immunoassay, and health physics instrumentation. Thermo BioAnalysis is a subsidiary of Thermo Instrument Systems Inc., a Thermo Electron company.
 Thermo BioAnalysis Corporation Financial Highlights
 Three Months Ended Twelve Months Ended
 Dec. 30, Dec. 31, Dec. 30, Dec. 31,
 1995 1994 1995 1994
 Revenues $5,498,000 $7,005,000 $22,534,000 $24,607,000


Income Before

Provision For
 Taxes 979,000 1,201,000 4,207,000 4,012,000
 Net Income 587,000 745,000 2,525,000 2,450,000


Earnings
 Per Share .07 .11 .33 .38


Weighted
 Average Shares 8,102,000 6,500,000 7,694,000 6,500,000
 -0- 3/11/96


/CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/

/Thermo Electron's latest news releases are available at no charge by dialing 800-758-5804, ext. 877850, or at http://www.prnewswire.com on the Internet/

(TMO)

CO: Thermo Bioanalysis Corporation; Thermo Electron Corporation ST: Massachusetts IN: MTC SU: ERN

DP -- NEM025 -- 0688 03/11/96 10:03 EST
COPYRIGHT 1996 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 11, 1996
Words:354
Previous Article:THERMO FIBERTEK ANNOUNCES RECORD YEAR-END RESULTS
Next Article:BET HOLDINGS, INC. REPORTS 2ND QUARTER EARNINGS PER SHARE INCREASE OF 19 PERCENT
Topics:

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters