THERMO INSTRUMENT SYSTEMS REPORTS RECORD THIRD QUARTER PROFITS
WALTHAM, Mass., Nov. 5 /PRNewswire/ -- Thermo Instrument Systems Inc. (AMEX: THI) today reported that net income increased by 32 percent to a record $6.5 million, or $.24 per share, on revenues of $82.8 million for the third quarter ended Sept. 28, 1991, compared with net income of $4.9 million, or 19 cents per share, on revenues of $79.9 million for the third quarter of 1990.
For the nine-month period, net income increased by 30 percent to $17.8 million, or 67 cents per share, on revenues of $250.9 million, compared with net income of $13.8 million, or 54 per share, on revenues of $193.1 million for the nine-month period in 1990.
The further improvement in our profit margin was among this quarter's highlights," said Arvin H. Smith, president and chief executive officer. "We entered the fourth quarter with $140 million in cash, cash equivalents, and short-term investments and are well-prepared to pursue opportunities for expansion into segments of the analytical market not currently served."
Thermo Instrument Systems develops, manufactures, and markets analytical instruments used to detect and monitor air pollution, radioactivity, complex chemical compounds, and toxic metals and other elements in a broad range of liquids and solids. The company also provides environmental science and engineering services, laboratory-based testing, and nuclear health physics services. Thermo Instrument Systems is a public subsidiary of Thermo Electron Corporation (NYSE: TMO).
THERMO INSTRUMENT SYSTEMS INC.
Three Months Ended Nine Months Ended
9/28/91 9/29/90 9/28/91 9/28/90
Revenues $82,808,000 $79,927,000 $250,887,000 $193,124,000
taxes 11,377,000 8,485,000 31,280,000 23,212,000
Net Income 6,485,000 4,921,000 17,830,000 13,757,000
per share 24 cents 19 cents 67 cents 54 cents
shares 27,252,000 26,129,000 26,713,000 25,412,000
/CONTACT: John N. Hatsopoulos of Thermo Instrument, 617-622-1111/
(THI TMO) CO: Thermo Instrument Systems, Inc. ST: Massachusetts IN: MTC SU: ERN SH -- NE004 -- 1093 11/05/91 08:47 EST