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Life Technologies Announces First Quarter 2011 Results
Date:4/26/2011

CARLSBAD, Calif., April 26, 2011 /PRNewswire/ -- Life Technologies Corporation (NASDAQ: LIFE) today announced results for its first quarter ending March 31, 2011. Non-GAAP revenue for the first quarter was $897 million, an increase of 1 percent over the $887 million reported for the first quarter of 2010. Organic revenue growth for the quarter was flat compared to the same period prior year, due to the impact of difficult year over year comparables and the extraordinary events that occurred in Japan. Excluding these items, organic growth for the quarter was 5 percent.

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"Our ability to drive performance is a direct result of our commitment to innovation and operational excellence," said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies. "We continue to invest in important new products and emerging markets while working to become ever more efficient in our operations.  We have laid the groundwork to accelerate both revenue and earnings in the remainder of the year and we are on track to meet our full year financial goals."

Analysis of First Quarter 2011 ResultsFirst quarter non-GAAP 2011 revenue increased
percent over the previous year.  Revenue growth without the impact from currency, completed acquisitions and divestitures was flat.  

  • Foreign currency exchange had a negative 1 point impact and prior acquisitions and divestitures contributed approximately 2 points to reported revenue growth.
  • Non-GAAP gross margin in the first quarter was 66.3 percent, 200 basis points lower than the same period prior year due to the negative impact from currency and mix partially offset by the positive impact of price.
  • Non-GAAP operating margin was 28.2 percent
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  • SOURCE Life Technologies Corporation
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