(Reuters) -Thermo Fisher Scientific Inc reported a 1.4% rise in quarterly sales on Wednesday, boosted by a rebound in demand for coronavirus tests due to the spread of the Omicron variant.
Thermo Fisher and industry peers have seen sales for coronavirus tests firming up in recent months amid high demand due to a surge in the Omicron-led COVID-19 cases, especially with the U.S. government mandating large employers to have their workers tested weekly.
The company’s net sales rose to $10.70 billion from $10.55 billion, aided by $2.45 billion in sales of COVID-related products. The company had reported sales of $2.05 billion from COVID products in the third quarter.
Net income attributable to Thermo Fisher Scientific, however, fell to $1.66 billion, or $4.17 per share, for the fourth quarter ended Dec. 31, from $2.50 billion, or $6.24 per share, a year earlier.
(Reporting by Manas Mishra and Dania Nadeem in Bengaluru;Editing by Vinay Dwivedi)
