THERMO ELECTRON ANNOUNCES RECORD THIRD QUARTER EARNINGS
WALTHAM, Mass., Nov. 5 /PRNewswire / -- Thermo Electron Corporation (NYSE: TMO) today reported record net income of $13.6 million, or 54 cents per share, on sales of $192.0 million for the quarter ended Sept. 28, 1991, compared with net income of $9.6 million, or 44 cents per share, on sales of $184.6 million for the third quarter a year ago.
For the nine-month period, net income rose to $32.9 million, or $1.42 per share, also records, on sales of $585.3 million, compared with net income of $24.8 million, or $1.17 per share, on sales of $503.8 million for the period a year ago.
"We have continued to benefit from strong, international positions and improved profit margins in our paper-recycling equipment and environmental and analytical instrumentation businesses," said Dr. George N. Hatsopoulos, chairman and president of Thermo Electron.
Thermo Electron develops, manufactures, and markets environmental and analytical instruments, custom-engineered and pre-packaged cogeneration systems, industrial process equipment, biomedical materials and products, and fabricated biomedical and aerospace components. The company also provides metallurgical heat treating, water quality engineering, and analytical laboratory services.
THERMO ELECTRON CORPORATION
Three Months Ended Nine Months Ended
9/28/91 9/29/90 9/28/91 9/29/90
Revenues $192,032,000 $184,604,000 $585,331,000 $503,830,000
taxes 19,187,000 16,478,000 48,497,000 34,947,000
Net income 13,605,000 9,573,000 32,901,000 24,799,000
per share 54 cents 44 cents $1.42 $1.17
shares 25,414,000 21,731,000 23,250,000 21,282,000
NOTE: Financial data has been restated to reflect the September 1991 acquisition of International Technidyne Corporation accounted for under the pooling-of-interests method.
/CONTACT: John N. Hatsopoulos, executive vice president and chief financial officer of Thermo Electron Corporation, 617-622-1111/
(TMO) CO: Thermo Electron Corporation ST: Massachusetts IN: SU: ERN SH -- NE003 -- 1092 11/05/91 08:45 EST