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Life Technologies Announces First Quarter 2013 Results
Date:5/2/2013

$24 million, offset by $37 million of cash proceeds from the sale of assets, resulting in free cash flow of $148 million.  The company ended the quarter with $293 million in cash and short-term investments.

Business Group and Regional Highlights

  • Research Consumables revenue was $409 million in the first quarter, a decrease of 3 percent compared to the prior year.  Excluding the impact from currency, revenue for the business group declined 1 percent. The decline in growth for the quarter was primarily driven by cautious spending in the U.S. and Europe and a tough comparison to prior year in Japan, which benefited from stimulus spending in Q1 2012.
  • Genetic Analysis revenue was $365 million in the first quarter, an increase of 3 percent over the same period last year. Excluding the impact from currency, revenue increased 5 percent. Growth for the quarter was primarily driven by an increase in our Ion Torrent business and royalties including licensing agreements, partially offset by lower CE instrument sales and an expected decline in SOLiD product sales.
  • Applied Sciences revenue was $189 million in the first quarter, an increase of 17 percent over the same period last year. Excluding the impact from currency, revenue increased 19 percent. Growth for the quarter was primarily driven by sales in Bioproduction and Forensics products.
  • Regional revenue growth rates excluding currency for the first quarter compared to the same quarter of the prior year were as follows: the Americas grew 5 percent, Europe grew 3 percent, Asia Pacific grew 10 percent and Japan grew 1 percent.  The Americas benefited from increased sales in Ion Torrent, Forensics, Bioproduction and higher royalties including licensing agreements.  Europe saw growth in Forensics and Bioproduction, offset by lower Research Consumables.  Asia Pacific grew across all business groups primarily due to Ion Torrent, Research Consumab
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  • SOURCE Life Technologies Corporation
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