SECURITIES AND EXCHANGE COMMISSION



                             Washington, D.C. 20549
                   -------------------------------------------


                                    FORM 8-K

                                 CURRENT REPORT


                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934




                                 Date of Report

                             (Date of earliest event
                                   reported):



                                  July 22, 2003

                    ----------------------------------------



                           THERMO ELECTRON CORPORATION
             (Exact name of Registrant as specified in its charter)

Delaware                                1-8002                       04-2209186
(State or other jurisdiction     (Commission File              (I.R.S. Employer
of incorporation or organization)       Number)                  Identification
                                                                      Number)

81 Wyman Street, P.O. Box 9046
Waltham, Massachusetts                                                02454-9046
(Address of principal executive offices)                              (Zip Code)

                                 (781) 622-1000
                         (Registrant's telephone number
                              including area code)





         This Current Report on Form 8-K contains forward-looking statements
that involve a number of risks and uncertainties. Important factors that could
cause actual results to differ materially from those indicated by such
forward-looking statements are set forth under the heading "Forward Looking
Statements" in the Registrant's Quarterly Report on Form 10-Q for the quarter
ended March 29, 2003. These include risks and uncertainties relating to the need
to develop new products and adapt to significant technological change,
dependence on customers that operate in cyclical industries, general worldwide
economic slow down and related uncertainties, the effect of changes in
governmental regulations, dependence on customers' capital spending policies and
government funding policies, use and protection of intellectual property,
retention of contingent liabilities from businesses we sold, integration and
consolidation of our instrument businesses, realization of potential future
savings from new sourcing initiatives, implementation of a new branding
strategy, implementation of strategies for improving internal growth, the effect
of exchange rate fluctuations on international operations, and potential
impairment of goodwill. While we may elect to update forward-looking statements
at some point in the future, we specifically disclaim any obligation to do so,
even if our estimates change and, therefore, you should not rely on these
forward-looking statements as representing our views as of any date subsequent
to today.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

         (a) Financial Statements of Business Acquired: Not applicable.

         (b) Pro Forma Financial Information: Not applicable.

         (c) Exhibits

                  99       Press Release dated July 22, 2003.

Item 9. Regulation FD Disclosure (Information furnished pursuant to Item 12,
"Disclosure of Results of Operations and Financial Condition").

         On July 22, 2003, the Registrant announced its financial results for
the fiscal quarter ended June 28, 2003. The full text of the press release
issued in connection with the announcement is attached hereto as Exhibit 99 to
this Form 8-K and incorporated herein by reference.

         In accordance with the procedural guidance in SEC Release No. 33-8216,
the information contained in this Form 8-K and Exhibit 99 attached hereto is
being furnished under "Item 9. Regulation FD Disclosure" rather than under "Item
12. Disclosure of Results of Operations and Financial Condition." The
information shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference in
any filing under the Securities Act of 1933 or the Exchange Act, except as
expressly set forth by specific reference in such a filing.






                                    SIGNATURE


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized, on this 22nd day of July 2003.


                                        THERMO ELECTRON CORPORATION


                                        By:       /s/ Kenneth J. Apicerno
                                                 -------------------------------
                                                 Kenneth J. Apicerno
                                                 Treasurer