Thermo Fisher Scientific reported a 1% increase in overall revenues in the fourth quarter of 2021, but revenues in the company's specialty diagnostics fell at a slightly higher rate.
For the fourth quarter of 2021 (end-December 31), total revenues were $10.7 billion, compared to total revenues of $10.5 billion during the same period in 2020. However, revenues for the company's specialty diagnostics business fell 26% from $1.967 billion in the fourth quarter of 2020 to $1.447 billion in the same period of 2021.
Also, the company reported a drop in operating income in the specialty diagnostics segment. For the fourth quarter of 2020, Thermo Fisher Scientific reported income of $520 million, while during that same period most recently, income was $297 million.
