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Thermo Fisher to Sell Lab Workstations Business
Thermo Fisher Scientific said after the close of the market on Thursday that it intends to sell its laboratory workstations business within the next 12 months.
In a document filed with the US Securities and Exchange Commission, the company said that senior management had made the decision to sell the "non-core" business on June 22. The laboratory workstation business is part of Thermo Fisher's Laboratory Products and Services Segment, and in 2011 it had revenues of $180 million and an operating loss of about $6 million, net of restructuring costs of $4 million.
Thermo Fisher will report the financial results for the business as discontinued operations beginning in the second quarter of 2012. During the quarter, it expects to record an after-tax charge of $50 million as the estimated loss on the planned sale.
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