Tuesday, April 27, 2010

Life Technologies beats forecast

* Q1 ex-items $0.87/shr vs. forecast of $0.80/shr

* Q1 revenue $887 mln vs. forecast of $864 mln

* Shares rise 1 pct after-hours

NEW YORK, April 27 (Reuters) - Life Technologies Corp (LIFE.O) on Tuesday reported better-than-expected first-quarter earnings, on strong demand for its tools and equipment used in genetic testing and stem cell research.

The company earned $91.5 million, or 48 cents per share, compared with $15.6 million, or 9 cents per share, in the year-earlier period.

Excluding special items, Life Technologies said it earned 87 cents per share. Analysts on average expected 80 cents per share, according to Thomson Reuters I/B/E/S.

The company reported revenue of $887 million, well above Wall Street expectations of $864 million.

Life Technologies, created by the merger of Invitrogen and Applied Biosystems, said it expects full-year revenue to grow in the mid-to high-single digit percentage range. It predicted 2010 earnings, excluding special items, of $3.30 to $3.50 per share, in line with Wall Street expectations of $3.41 per share.

Shares of the company rose 1 percent in after-hours trading to $51.69 from their closing share price on Tuesday of $51.15 on the Nasdaq. (Reporting by Ransdell Pierson; Editing by Bernard Orr)

This is just a copy and paste job. I will review the numbers in detail tonight and repost an analysis of results and explain affects on my price target.

----- Michael Arias

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