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Life Technologies Announces Fourth Quarter and Fiscal 2012 Results
Date:2/4/2013

ar having repurchased $635 million, or 13.8 million shares in total, well above our 50 percent target.  Additionally, we have already repurchased $105 million, or 2 million shares, year-to-date in 2013." 

"Looking ahead to 2013, we expect another significant increase in our Ion Torrent business sales for the third consecutive year and expansion in our applied and emerging markets to drive revenue growth of 3 to 5 percent over 2012 results of $3.8 billion.  If sequestration is implemented, we estimate it would reduce our revenue by approximately 1 percent and we would expect to be at the low end of our guidance range, at 3 percent growth for 2013. We are guiding to non-GAAP EPS in a range of $4.30 to $4.45, which would result in 8 to 12 percent growth over 2012 results."

Life Technologies reported results compared to the quarter and fiscal year ended Dec. 31, 2011. Results are non-GAAP unless indicated otherwise. A full reconciliation of the non-GAAP measures to GAAP can be found in the tables of today's press release.

Analysis of Fourth Quarter and Fiscal 2012 Results

  • Fourth quarter revenue increased 3 percent over the prior year, or 4.5 percent excluding the impact of currency. Full year 2012 revenue increased 2 percent to $3.8 billion. Revenue growth for the quarter and the full year were driven by strong sales from the Ion Torrent business and growth in the company's Research Consumables and Bioproduction businesses, partially offset by expected declines in SOLiD® sales and qPCR royalty revenue.
  • Gross margin in the fourth quarter was 64.6 percent, a 20 basis point increase compared to the same period of the prior year primarily driven by manufacturing productivity, partially offset by a higher mix of instrument sales and unfavorable currency rates. Full year gross margin was 65.6 percent, an increase of 40 basis points, primarily due to improved product mix and higher realize
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