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Exhibit 99.1
Investor and Financial Contacts:
Carol Cox
Investor Relations
760-603-7208
Life Technologies Announces Fourth Quarter and Fiscal Year 2011 Results
| Fourth quarter revenue increased 4 percent to $970 million; GAAP earnings per share (EPS) increased to $0.69, or $1.06 on a non-GAAP basis, an increase of 18 percent |
| 2011 revenue increased 4 percent to $3.7 billion; GAAP EPS increased to $2.23, or $3.73 on a non-GAAP basis, an increase of 5 percent |
| 2011 free cash flow totaled $710 million |
| 2012 outlook of non-GAAP organic revenue growth of 2 to 4 percent over 2011; Non-GAAP EPS guidance range of $3.90 to $4.05 |
CARLSBAD, CA, February 7, 2012 Life Technologies Corporation (NASDAQ: LIFE) today announced results for the quarter and full year ended December 31, 2011 and provided financial guidance for 2012.
I am pleased with our performance in the fourth quarter and throughout 2011, even as we faced a number of challenges, including macroeconomic headwinds and constrained spending by some of our customers, said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies. Overcoming these obstacles, we delivered top line growth, reduced our operating costs to meet the slower growth environment and expanded our operating margins an impressive 110 basis points, all of which we leveraged to deliver bottom line growth for the twelfth consecutive year. We finished the year with strong free cash flow of $710 million.
Looking ahead to 2012, we expect growth in our game-changing Ion Torrent franchise, expansion in end markets and geographies and continued operational efficiencies to drive organic revenue growth of 2 to 4 percent over 2011 results and adjusted non-GAAP EPS in a range of $3.90 to $4.05.
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Life Technologies Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2012 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Life Technologies Corp provided additional information to their SEC Filing as exhibits
CIK: 1073431
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-089112
Submitted to the SEC: Wed Feb 29 2012 4:08:54 PM EST
Accepted by the SEC: Wed Feb 29 2012
Period: Saturday, December 31, 2011
Industry: Biological Products No Disgnostic Substances