Updated on 1 August 2012
Mr Lucier also highlighted that, "For the second half of 2012, we continue to expect solid growth in our Ion Torrent platform, as we begin shipping Ion Proton Sequencers in September, and in our emerging and applied markets. However, based primarily on increased headwinds from currency and an incrementally more conservative outlook for our European operations, we are revising our 2012 guidance. We are now expecting our organic revenue growth to be at the low end of our previously provided range of 2 to 4 percent and non-GAAP earnings per share in a range of $3.90-to-$4.00."
Furthermore, Life Technologies' board of directors approved a share repurchase program, authorizing the company to purchase up to $750 million of its common stock. This is in addition to the approximately $62 million remaining as of July 31, 2012 from the existing share repurchase authorization of $200 million approved in July of 2011.
Life Technologies remained committed to a balanced capital allocation program that includes returning a significant portion of the free cash flow annually to investors and using the remaining cash flow to support strategic opportunities in key franchises and expansion into new markets. In 2012, the firm spent $335 million to repurchase shares and continues to remain committed to executing on the new authorization beginning in the second half of 2012.