one-time costs including the early repayment of debt and the associated impacts, and the impact of certain settlements in order to provide a supplemental comparison of the results of operations. LIFE TECHNOLOGIES CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONSFor the nine monthsFor the nine months
(in thousands, except per share data)ended September 30, 2012ended September 30, 2011
(unaudited)Revenues$
2,799,606$
2,765,227Cost of revenues
955,111955,840Purchased intangibles amortization
219,192226,527Gross profit
1,625,3031,582,860Gross margin58.1%57.2%Operating expenses:Selling, general and administrative
790,012759,438Research and development
258,225287,723Business consolidation costs
34,26656,468Total operating expenses
1,082,5031,103,629Operating income
542,800479,231Operating margin
19.4%17.3%Interest income
1,7152,960Interest expense
(94,266)(123,911)Other expense, net
(11,097)(7,980)Total other expense, net
(103,648)(128,931)Income from operations before provision for income taxes
439,152350,300Income tax provision
(87,083)(65,534)Net income
352,069284,766Net loss attributable to non-controlling interests
305658Net income attributable to controlling interest$
352,374$
285,424Effective tax rate
19.8%18.7%Add back interest expense for subordinateddebt, net of tax
12716Numerator for diluted earnings per share$
352,386$
286,140Earnings per common share:Basic earnings per share attributable to controlling interest$
.99$
.59Diluted earnings per share attributable to controlling interest$
.95$
.54Weighted average shares used in per share calculation:Basic
177,028179,751Diluted
180,559185,946
LIFE TECHNOLOGIES CORPORA
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