Life Technologies Reports Revenue of $963M for Q1Friday, May 3, 2013
Revenue for Life Technologies was $963 million for the quarter ending March 31 — a 2.5 percent increase over the $939 million reported for the first quarter of 2012.
The Carlsbad company recently announced it has been acquired by Waltham, Mass.-based Thermo Fisher Scientific for $13.6 billion, or $76 per share.
The publicly traded company’s stock is up 57 percent from a year previous, trading at $73.63 a share at market close on May 2.
The company cited strong sales from its genetic sequencing division as driving the revenue growth, but sequestration cuts negatively impacted sales of its research equipment division.
The company said that it expects revenue in the range of $950 million to $955 million for the second quarter, which ends June 30.
— SDBJ Staff Report