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Life Technologies Announces Second Quarter 2013 Results
Date:7/31/2013

uding the impact of currency.  Revenue growth for the quarter was driven by a significant increase in sales from Ion Torrent, an increase in the Research Consumables business and higher royalties including licensing agreements, partially offset by lower CE for research, SOLiD and Bioproduction sales.
  • Gross margin in the second quarter was 65.9 percent, an increase of approximately 50 basis points over the same period of the prior year that was driven by manufacturing productivity, revenue from licensing agreements and higher realized price, partially offset by product mix with the continued increase in Ion Torrent instrument sales.
  • Operating margin was 27.4 percent in the second quarter, approximately 120 basis points lower than in the same period of the prior year. Operating margin was primarily impacted by increased expenses related to acquisitions and planned investments in Ion Torrent and molecular diagnostics.
  • The Company's tax rate was 25.0 percent for the second quarter.  The rate was lower than in the second quarter of last year due to the reinstatement of the US research tax credit, greater earnings in countries with lower tax rates and the settlement of income tax audits.
  • Second quarter EPS increased 2 percent to $0.98.
  • Diluted weighted shares outstanding were 175.6 million in the second quarter, a decrease of 5.7 million shares over the prior year.  The decrease was a result of the share repurchase program, partially offset by shares issued for employee stock plans.
  • Cash flow from operating activities for the second quarter was $219 million. Second quarter capital expenditures were $23 million, resulting in free cash flow of $196 million.  The company ended the quarter with $290 million in cash and short-term investments.
  • Business Group and Regional Highlights

  • Research Consumables revenue was $405 million in the second quarter, an increase o
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  • SOURCE Life Technologies Corporation
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