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Life Technologies Announces Third Quarter 2011 Results
Date:10/25/2011

CARLSBAD, Calif., Oct. 25, 2011 /PRNewswire/ -- Life Technologies Corporation (NASDAQ: LIFE) today announced results for its third quarter ending September 30, 2011. Non-GAAP revenue for the third quarter was $929 million, an increase of 7 percent over the $869 million reported for the third quarter of 2010. Excluding the impact of currency, revenue growth for the quarter was 4 percent compared to the same period of the prior year.

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"We are pleased with our third quarter results.  We have seen an improvement in our Greater China business and continue to gain traction with our Ion Torrent products," said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies.  "Although academic government funding pressures are expected to continue in the U.S. and Europe, we are positioning our products and cost structure to succeed in this new environment."

Analysis of Third Quarter 2011 Results

  • Third quarter non-GAAP 2011 revenue increased 7 percent over the prior year.  Revenue growth without the impact from currency was 4 percent.
  • Non-GAAP gross margin in the third quarter was 66.1 percent, approximately 70 basis points lower than the same period of the prior year due to the negative impact from higher instrument sales and lower royalty revenue, partially offset by the positive impact from productivity and price.
  • Non-GAAP operating margin was 29.4 percent in the third quarter, approximately 40 basis points higher than the same period of the prior year.  Operating margin improvement was primarily due to the company's continued focus on operational efficiencies.
  • Third quarter non-GAAP tax rate was 27.1 percent.
  • Diluted weighted
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