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Life Technologies Announces Second Quarter 2011 Results
Date:7/28/2011

rest expense (FSP APB14-1)

0.03

0.03Business integration and other charges

0.08

0.09Amortization of acquisition related expenses

0.26

0.21Non-GAAP earnings per share$0.89$0.91(2%)Business Highlights:

  • Cell Systems division non-GAAP revenue was $243 million in the second quarter, an increase of 5 percent over the same period last year.  Excluding the impact from currency, organic revenue grew 4 percent year over year.  Mid teens growth in the BioProduction business was tempered by slower growth in other product areas, which were negatively impacted by continued funding pressures in the US and Europe, and the temporary slowdown in China.
  • Molecular Biology Systems division non-GAAP revenue was $432 million, a decline of less than 1 percent over prior year.  Excluding the impact from currency, organic revenue for the division declined 2 percent.  Strong sales of qPCR consumables and molecular testing kits sold into applied markets were offset by slower growth in government funded accounts in the US and Europe as well as the temporary slowdown in China.
  • Genetic Systems division non-GAAP revenue was $265 million in the second quarter, an increase of 12 percent over the same period last year.  Excluding the impact from currency, revenue increased 11 percent.  Strong sales of the Ion Torrent PGM™ and the 5500 Series Genetic Sequencer were partially offset by reduced demand for CE instruments, the result of continued funding pressures in government funded accounts, as well as lower sales of next generation sequencing consumables as the 5500 ramps up.
  • Regional revenue growth rates for the quarter compared to the same quarter of the prior year were as follows: the Americas grew 3 percent, Europe 2 percent, Asia Pacific 3 percent and Japan grew 8 percent.
  • The company called and settled $350 million of 3.25% Convertible Senior Notes due 2025.  <
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  • SOURCE Life Technologies Corporation
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