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):



                                October 21, 2003

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


                                                                                         
Delaware                                                     1-8002                                                04-2209186
(State or other jurisdiction of                     (Commission File Number)                  (I.R.S. Employer Identification
incorporation or organization)                                                                                        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 July 22, 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 October 21, 2003.

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

         On October 21, 2003, the Registrant announced its financial results for
the fiscal quarter ended September 27, 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 21st day of October 2003.



                                        THERMO ELECTRON CORPORATION


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