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

d price, offset by the decrease in qPCR royalties and unfavorable currency rates.
  • Operating margin was 29.9 percent in the fourth quarter, approximately 70 basis points lower than the same period of the prior year. Operating margin was primarily impacted by unfavorable currency rates and expenses related to our acquisitions in molecular diagnostics. Full year operating margin increased 20 basis points to 29.2 percent. The increase was driven primarily by an increase in gross margins and improvement in currency, partially offset by higher expenses related to our acquisitions in molecular diagnostics.
  • The tax rate was 27.2 percent for the fourth quarter and 27.6 percent for the full year.
  • Fourth quarter EPS increased 6 percent to $1.11. Full year EPS increased 7 percent to $3.98.  Fourth quarter and the full year were negatively impacted by $(0.03) due to the timing of the 2012 federal R&D tax credit benefit being moved from the fourth quarter of 2012 to 2013. The company's fourth quarter and full year 2012 guidance had assumed the reinstatement and benefit of the federal R&D tax credit by the end of 2012.
  • Diluted weighted shares outstanding were 175.8 million in the fourth quarter, a decrease of 8.8 million shares over the prior year. The decrease was a result of the continuation of the company's share repurchase program, partially offset by shares issued for employee stock plans. The company repurchased $100 million or 2.0 million shares in the fourth quarter.
  • Cash flow from operating activities for the fourth quarter was $221 million. Fourth quarter capital expenditures were $48 million, resulting in free cash flow of $173 million. The company ended the quarter with $276 million in cash and short-term investments.
  • Business Group Highlights

  • Research Consumables revenue was $409 million in the fourth quarter, an increase of 2 percent compared to the prior year. Excluding
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  • SOURCE Life Technologies Corporation
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