Life Technologies Corp Earnings: Booking a Profit Again

S&P 500 (NYSE:SPY) component Life Technologies Corporation (NASDAQ:LIFE) reported its results for the fourth quarter. Life Technologies is a global biotechnology tools company offering products that include systems, instruments, reagents, and custom services.

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Life Technologies Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the biotechnology company rose to $127.4 million (69 cents per share) vs. $70.7 million (37 cents per share) in the same quarter a year earlier. This marks a rise of 80.2% from the year earlier quarter.

Revenue: Rose 8.4% to $1.01 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Life Technologies Corporation reported adjusted earnings of $1.06, which beat the mean analyst estimate of $1.03 per share. It beat the average revenue estimate of $967.7 million.

Quoting Management: “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.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 7% to $928.2 million in the third quarter. The figure rose 4.1% in the second quarter from the year earlier and climbed 1.2% in the first quarter from the year-ago quarter.

Last quarter’s profit increase breaks a streak of two consecutive quarters of year-over-year profit decreases. In the third quarter, net income fell 8.8% while the figure dropped in the second quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 94 cents versus a mean estimate of net income of 88 cents per share.

Looking Forward: Expectations for the company’s next quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the first quarter of the next fiscal year has risen to 96 cents per share from 93 cents. The average estimate for the fiscal year is $3.70 per share, down from $3.71 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com