Thermo Fisher Scientific (NYSE:TMO) released its second-quarter earnings this morning, posting an adjusted earnings per share of $1.72, beating consensus estimates handsomely by 6.8% in the process. Revenue came in higher than the Street's estimates as well, by 1.6%, at $4.32 billion.
In terms of year-over year growth, Thermo's adjusted earnings per share rose by 30% and revenue by 33%. The company also updated its 2014 revenue guidance to $16.86 billion to $16.98 billion, compared to its prior guidance of $16.84 billion to $17.00 billion.
Digging into the details, this impressive year-over-year growth was driven largely by Thermo's acquisition and subsequent integration of Life Technologies. According to the company's press release today, this single acquisition helped to grow Life Sciences Solutions revenue by a noteworthy 600% compared to the same period a year ago. Specifically, Thermo reported that this segment hauled in $1.103 billion this quarter, compared to only $181 million a year ago.
To put these numbers into context, Life Sciences Solutions accounted for 25.5% of total revenue this quarter, compared to only 5.6% in the second quarter of 2013. Put simply, Thermo's nearly $16 billion acquisition of Life Technologies is paying off in a big way by driving strong top- and bottom-line growth for the company.
The company's Analytical Instruments, Specialty Diagnostics and Laboratory Products and Services segments all saw single-digit revenue growth year-over-year. Overall, Thermo's strong second quarter following the full integration of Life Technologies and growth of all its business segments appears to bode well for the company for the remainder of the year.
George Budwell has no position in any stocks mentioned. The Motley Fool recommends Thermo Fisher Scientific. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.