Thermo Fisher Scientific has reported a 7% rise in revenue, to $11.45bn, in the fourth quarter (Q4) of 2022 from $10.70bn reported in the same quarter for the previous year.

The company’s organic revenues fell by 3%, while core organic revenue grew by 14%, with $0.37bn Covid-19 testing revenue.

The GAAP diluted earnings per share (EPS) for Q4 stood at $4.01, compared to $4.17 in the prior-year quarter.

Thermo Fisher’s GAAP operating income during the quarter was $1.86bn, versus $2.54bn in the same quarter for the previous year, and its GAAP operating margin was 16.3%, compared to 23.7%.

In Q4, the adjusted EPS stood at $5.40, compared to $6.54 in the prior-year quarter.

The company reported an adjusted operating income of $2.56bn, versus $3.16bn in the same quarter for 2021, and the adjusted operating margin was 22.4%, compared to 29.5%.

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Thermo Fisher’s revenue increased by 15% in the full year of 2022, to $44.92bn, while in the previous year it was $39.21bn.

During the year, organic revenue grew slightly, while core organic revenue grew by 14%, with $3.11bn Covid-19 testing revenue.

The company’s GAAP diluted EPS for the full year stood at $17.63, compared to $19.46 in 2021, while adjusted EPS was $23.24, versus $25.13 in 2021.

Thermo Fisher introduced the Gibco CTS DynaCellect Magnetic Separation System, Thermo Scientific Glacios 2 Cryo-TEM (transmission electron microscope) and SeCore CDx HLA Sequencing System during Q4 2022.

Thermo Fisher Scientific chairman, president and CEO Marc Casper said: “We had another exceptional year, exceeding our goals and delivering for all of our stakeholders in 2022.

“Thanks to our incredible global team, we successfully executed our proven growth strategy, effectively navigated the macro-environment, and delivered impressive financial results, as we continued to enable our customers to make the world healthier, cleaner and safer.”