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Life Technologies Announces Third Quarter 2013 Results
Date:11/5/2013

Analysis of Third Quarter 2013 Results

  • Third quarter revenue increased by 3 percent over the prior year, representing an increase of approximately 4 percent excluding the impact of currency.  Revenue growth for the quarter was driven by increases in the company's Research Consumables and Bioproduction businesses, partially offset by declines in Genetic Analysis.
  • Gross margin in the third quarter was 65.7 percent, approximately 10 basis points higher than the same period of the prior year.  Gross margin was driven by manufacturing productivity and higher realized price, partially offset by a decline in royalties.
  • Operating margin was 28.1 percent in the third quarter, approximately 10 basis points higher than in the same period of the prior year, primarily due to the increase in revenue and gross margin, partially offset by increases in expenses related to acquisitions and planned investments in Ion Torrent.
  • The Company's tax rate was 22.9 percent for the third quarter, which was lower than the third quarter of last year due to the reinstatement of the U.S. federal research tax credit and tax credits on foreign repatriation.
  • Third quarter EPS increased 10 percent to $1.02.
  • Diluted weighted shares outstanding were 175.9 million in the third quarter, a decrease of 1.4 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 third quarter was $250 million.  Third quarter capital expenditures were $25 million, resulting in free cash flow of $225 million.  The company ended the quarter with $368 million in cash and short-term investments.
  • Business Group and Regional Highlights

  • Research Consumables revenue was $404 million in the third quarter, an increase of 5 percent compared to the
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  • SOURCE Life Technologies Corporation
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