Updated on 1 August 2012
Figures that matter: $950 Mn-Life Tech's Q2 2012 revenue; $750 Mn-Life Tech's Share Repurchase Program
Singapore: Life Technologies announced results for its second quarter (Q2) ending June 30, 2012. Revenue for Q2 was $950 million, an increase of one percent over the $945 million, reported for the second quarter of 2011. Excluding the impact of currency, revenue growth for the quarter was one percent as compared to the same period of the prior year.
Mr Gregory T Lucier, chairman and CEO, Life Technologies, said that, "We finished the first half of 2012 in line with our expectations, as strength in our BioProduction and Ion Torrent businesses enabled us to grow revenue in the second quarter by five percent, excluding nearly $40 million in headwinds from expected declines in sales of our SOLiD 5500 product and qPCR royalties."
"During the quarter, we continued to deliver on our innovation pipeline, launching new Ion AmpliSeq clinical research products, selling a record number of our QuantStudio digital qPCR instruments and expanding our capabilities to commercialize novel stem cell technologies," added Mr Lucier.
In July, the firm made significant progress in building its diagnostics franchise with the tuck-in acquisitions of Navigenics and Pinpoint Genomics, which in combination will allow the company to offer a unique lung cancer clinical test to the pathology and oncology community.
Life Technologies reported current quarter results as compared to the quarter ending June 30, 2011. Results are non-GAAP unless indicated otherwise.