Thermo Fisher Scientific Inc. (TMO) has reported a 37.10 percent jump in profit for the quarter ended Apr. 01, 2017. The company has earned $551.40 million, or $1.40 a share in the quarter, compared with $402.20 million, or $1.01 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $820.20 million, or $2.08 a share compared with $717.10 million or $1.80 a share, a year ago.

Revenue during the quarter grew 10.95 percent to $4,765 million from $4,294.80 million in the previous year period. Gross margin for the quarter expanded 70 basis points over the previous year period to 48.64 percent. Total expenses were 86.94 percent of quarterly revenues, down from 87.94 percent for the same period last year. This has led to an improvement of 100 basis points in operating margin to 13.06 percent.

Operating income for the quarter was $622.40 million, compared with $517.90 million in the previous year period.

However, the adjusted operating income for the quarter stood at $1,075.80 million compared to $930 million in the prior year period. At the same time, adjusted operating margin improved 92 basis points in the quarter to 22.58 percent from 21.65 percent in the last year period.

"We're pleased to start the year on a strong note," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "We delivered excellent performance on both the top and bottom line, executing our growth strategy and positioning Thermo Fisher for an even stronger future. "We started strong on the innovation front as well, launching new products that help our customers in a range of applications create more powerful workflows, drive efficiency and sustainability in their labs, and more effectively diagnose disease. In Asia-Pacific, we were especially pleased to continue our excellent momentum in China by leveraging our scale to strengthen our leadership in this key high-growth region. Casper added, "Based on our performance in the first quarter, we're well-positioned to deliver another excellent year."

For financial year 2017, Thermo Fisher Scientific Inc. expects revenue to be in the range of $19,510 million to $19,710 million. The company projects diluted earnings per share to be in the range of $9.12 to $9.28 on adjusted basis.

The company has spent $381.90 million cash to meet investing activities during the quarter as against cash outgo of $1,138.90 million in the last year period. It has incurred net capital expenditure of $92.30 million on net basis during the quarter, down 15.40 percent or $16.80 million from year ago period.

The company has spent $119.30 million cash to carry out financing activities during the quarter as against cash inflow of $1,142.40 million in the last year period.