Life Technologies Announces Second Quarter 2013 Results

           Life Technologies Announces Second Quarter 2013 Results

Revenue increased 1% excluding impact of currency

GAAP earnings per share (EPS) were $0.72, or $0.98 on a Non-GAAP basis

Free Cash Flow of $196 million

PR Newswire

CARLSBAD, Calif., July 31, 2013

CARLSBAD, Calif., July 31, 2013 /PRNewswire/ --Life Technologies Corporation
(NASDAQ: LIFE) today announced results for its second quarter ended June 30,
2013. Revenue for the second quarter was $944 million, a decrease of 1
percent over the $950 million reported for the second quarter of 2012.
Excluding the impact of currency, revenue growth for the quarter was 1 percent
compared to the same period of the prior year. 

"We are pleased to report results that reflect significant growth in Ion
Torrent, strength in Applied Sciences and continued stable performance in
Research Consumables," said Gregory T. Lucier, chairman and chief executive
officer of Life Technologies. "During the quarter, we added to our innovation
pipeline, launching novel tools for stem cell research, digital qPCR and Ion
Torrent. We continued to expand into growth and emerging markets by acquiring
our instrument distributor in South Korea, and by entering into strategic
relationships that apply our technologies to therapeutic areas like oncology."

Lucier continued, "We are actively working with Thermo Fisher to consummate
our previously announced transaction. We recently filed our definitive proxy
and will be hosting our special meeting of stockholders on August 21, 2013.
Both companies remain excited about creating the unrivaled leader in life
sciences  that will continue to accelerate innovation and better meet the
needs of our customers."

Life Technologies reported results compared to the quarter ended June 30,
2012. Results are non-GAAP unless indicated otherwise. A full reconciliation
of non-GAAP to GAAP measures can be found in the tables of today's press
release.

Analysis of Second Quarter 2013 Results

  oSecond quarterrevenue decreased by 1 percent over the prior year,
    representing an increase of approximately 1 percent excluding the impact
    of currency. Revenue growth for the quarter was driven by a significant
    increase in sales from Ion Torrent, an increase in the Research
    Consumables business and higher royalties including licensing agreements,
    partially offset by lower CE for research, SOLiD and Bioproduction sales.
  oGross margin in the second quarterwas 65.9 percent, an increase of
    approximately 50 basis points over the same period of the prior year that
    was driven by manufacturing productivity, revenue from licensing
    agreements and higher realized price, partially offset by product mix with
    the continued increase in Ion Torrent instrument sales.
  oOperating margin was 27.4 percent in the second quarter, approximately 120
    basis points lower than in the same period of the prior year. Operating
    margin was primarily impacted by increased expenses related to
    acquisitions and planned investments in Ion Torrent and molecular
    diagnostics.
  oThe Company's tax rate was 25.0 percent for the second quarter. The rate
    was lower than in the second quarter of last year due to the reinstatement
    of the US research tax credit, greater earnings in countries with lower
    tax rates and the settlement of income tax audits.
  oSecond quarter EPS increased 2 percent to $0.98. 
  oDiluted weighted shares outstanding were 175.6 million in the second
    quarter, a decrease of 5.7 million shares over the prior year. The
    decrease was a result of the share repurchase program, partially offset by
    shares issued for employee stock plans. 
  oCash flow from operating activities for the second quarter was $219
    million. Second quarter capital expenditures were $23 million, resulting
    in free cash flow of $196 million. The company ended the quarter with
    $290 million in cash and short-term investments.

Business Group and Regional Highlights

  oResearch Consumables revenue was $405 million in the second quarter, an
    increase of 1 percent compared to the prior year.Excluding the impact of
    currency, revenue for the business group increased 2 percent primarily due
    to strong sales from the Company's fluorescent imaging, stem cell and
    sample prep products.
  oGenetic Analysis revenue was $341 million in the second quarter, a
    decrease of 4 percent over the same period last year. Excluding the impact
    of currency, revenue decreased 2 percent. Results for the quarter were
    primarily driven by an increase in Ion Torrent sales, offset by lower CE
    research sales, primarily due to large customer orders in the second
    quarter of the prior year and an expected decline in SOLiD.
  oApplied Sciences revenue was $198 million in the second quarter, an
    increase of 2 percent over the prior year. Excluding the impact of
    currency, revenue increased 4 percent primarily as a result of licensing
    agreements, partially offset by a decline in the Company's Bioproduction
    business due to the timing of customer orders.
  oRegional revenue growth rates excluding currency for the second quarter,
    compared to the same quarter of the prior year, were as follows: the
    Americas declined 1 percent, Europe was flat, Asia Pacific grew 4 percent,
    and Japan grew 6 percent. 

Outlook
Given the announcement in April that Life Technologies and Thermo Fisher have
entered into a definitive merger agreement under which Thermo Fisher will
acquire all of the outstanding shares of Life Technologies for $76.00 per
share in cash, the Company is no longer providing quarterly guidance. The
Company will continue to provide commentary regarding the impact that
fluctuations in currency rates could have on results.

Based on June 30, 2013 rates, currency is expected to have a negative impact
of approximately $75 million on revenue and $0.17 on non-GAAP EPS for the full
year. This compares to a negative impact of $62 million on revenue and $0.15
on non-GAAP EPS for the full year at March 31, 2013 rates.

Conference Calls
In light of the announced transaction with Thermo Fisher, the Company will no
longer hold conference calls for its quarterly and annual earnings. The
transaction, which is expected to close early in 2014, is subject to a Life
stockholder vote and customary closing conditions, including regulatory
approvals.

About Life Technologies
Life Technologies Corporation(NASDAQ:LIFE) is a global biotechnology company
that is committed to providing the most innovative products and services to
leading customers in the fields of scientific research, genetic analysis and
applied sciences. With a presence in more than 180 countries, the company's
portfolio of 50,000 end-to-end solutions are secured by more than 5,000
patents and licenses that span the entire biological spectrum -- scientific
exploration, molecular diagnostics, 21stcentury forensics, regenerative
medicine and agricultural research. Life Technologies has approximately 10,000
employees and had sales of $3.8 billion in 2012. Visit us at our
website:http://www.lifetechnologies.com.

Safe Harbor Statement
Certain statements contained in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, and Life Technologies intends that such forward-looking statements be
subject to the safe harbor created thereby.Forward-looking statements may be
identified by words such as "expects," "anticipates," "intends," "plans,"
"believes," "seeks," "estimates," "will," or words of similar meaning and
include, but are not limited to, statements about the expected future business
and financial performance of the company and statements regarding the proposed
acquisition of Life Technologies by Thermo Fisher. Such forward-looking
statements include, but are not limited to, statements relating to financial
projections, including revenue and pro forma EPS projections; success of
acquired businesses, including cost and revenue synergies; development and
increased flow of new products; leveraging technology and personnel; advanced
opportunities and efficiencies; opportunities for growth; expectations of
prospective new standards, new delivery platforms, and new selling
specialization and effectiveness; plans and prospects for the company;
corporate strategy and performance; and the expected timetable for completing
the transaction with Thermo Fisher.A number of the matters discussed in this
press release and presentation that are not historical or current facts deal
with potential future circumstances and developments, including future
research and development plans. The discussion of such matters is qualified by
the inherent risks and uncertainties surrounding future expectations generally
and other factors that could cause actual results to differ materiallyfrom
future results expressed or implied by such forward-looking statements. Such
risks and uncertainties include, but are not limited to: volatility of the
financial markets; and the risks that are described from time to time in Life
Technologies' reports filed with the SEC.This press release and presentation
speaks only as of its date, and the company disclaims any duty to update the
information herein.

All products referenced are for Research Use Only and not intended for use in
diagnostic procedures, unless otherwise noted.

Non-GAAP Measurements
This discussion includes certain financial information which constitutes
"non-GAAP financial measures" as defined by the SEC. The GAAP measures which
are most directly comparable to these measures, as well as a reconciliation of
these measures with the most directly comparable GAAP measures, can be found
at on the Investor Relations portion of the company's website at
www.lifetechnologies.com.

(Logo: http://photos.prnewswire.com/prnh/20110216/MM49339LOGO)

Investor and Financial Contact:

Carol Cox
Investor Relations
(760) 603-7208
ir@lifetech.com



LIFE TECHNOLOGIES CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
                                              For the three    For the three
                                              months           months
(in thousands, except per share data)         ended June 30,   ended June 30,
                                              2013             2012
(unaudited)
Revenues                                      $         $       
                                                 945,808      949,309
Cost of revenues                              318,625          328,359
Purchased intangibles amortization            70,865           75,961
                   Gross profit               556,318          544,989
Gross margin                                  58.8%            57.4%
Operating expenses:
       Selling, general and administrative    276,400          266,049
       Research and development               88,559           84,816
       Business consolidation costs           28,310           9,429
                Total operating expenses      393,269          360,294
                   Operating income           163,049          184,695
Operating margin                              17.2%            19.5%
       Interest income                        747              515
       Interest expense                       (27,649)         (29,237)
       Other expense, net                     (1,912)          (2,600)
                Total other expense, net      (28,814)         (31,322)
Income from operations before provision for
 income taxes                             134,235          153,373
Income tax provision                          (7,819)          (31,070)
                   Net income                 126,416          122,303
                   Net loss attributable to   224              51
                   non-controlling interests
                   Net income attributable to $         $       
                   controlling interest         126,640       122,354
Effective tax rate                           5.8%             20.3%
Numerator for diluted earnings
 per share                                   $         $       
                                                126,640       122,354
Earnings per common share:
       Basic earnings per share attributable  $         $       
       to controlling interest                                
                                              0.73             0.69
       Diluted earnings per share             $         $       
       attributable to controlling interest                   
                                              0.72             0.67
Weighted average shares used in per share
calculation:
       Basic                                  172,516          178,168
       Diluted                                175,559          181,307



LIFE TECHNOLOGIES CORPORATION
ITEMIZED RECONCILIATION BETWEEN
GAAP AND NON-GAAP NET INCOME
                                         For the three      For the three
                                         months             months
(in thousands, except per share data)    ended June         ended June
                                         30, 2013           30, 2012
(unaudited)
                                         $            $      
GAAP net income                                           
                                         126,416           122,303
  Non-GAAP revenue adjustments
                 Purchase accounting     516                278
                 related adjustments
                 Historical portion of   (2,774)            -
                 licensing settlement
  Total Non-GAAP revenue adjustments     (2,258)       ^(1) 278           ^(1)
  Non-GAAP cost of revenues and
  purchased intangible adjustments
                 Purchased intangibles   70,865             75,961
                 amortization
                 Purchase accounting     (2,748)            -
                 related adjustments
  Total Non-GAAP cost of revenues and    68,117        ^(2) 75,961        ^(2)
  purchased intangible adjustments
  Non-GAAP operating expense adjustments
                 Purchase accounting     1,322              923
                 related adjustments
                 Business consolidation  28,310             9,429
                 costs
  Total Non-GAAP operating expense       29,632        ^(3) 10,352        ^(3)
  adjustments
  Non-GAAP other expense adjustments
                 Other expense           -                  5
  Total Non-GAAP other expense           -                  5             ^(4)
  adjustments
  Non-GAAP income tax provision
  adjustments
                 Income tax adjustments  (49,498)           (35,053)
  Total Non-GAAP income tax provision    (49,498)      ^(5) (35,053)      ^(5)
  adjustments
                                         $            $      
Non-GAAP Net Income                                        
                                         172,409           173,846
  Non-GAAP loss attributable to          224           ^(6) 51            ^(6)
  non-controlling interest
Non-GAAP Net Income Attributable to      $            $      
Controlling Interest                                       
                                         172,633           173,897
Non-GAAP Numerator for diluted earnings  $            $      
per share                                                  
                                         172,633           173,897
Non-GAAP Earnings per common share:
  Basic earnings per share attributable  $            $      
  to controlling interest                                  
                                         1.00               0.98
  Diluted earnings per share             $            $      
  attributable to controlling interest                     
                                         0.98               0.96
Weighted average shares used in per
share calculation:
  Basic                                  172,516            178,168
  Diluted                                175,559            181,307

Summary of Reconciliation between GAAP and
Non-GAAP Net Income
          For the three months ended June 30, 2013, Non-GAAP earnings resulted
          in total revenue of $943.6 million, gross profit of $622.2 million
          with gross margin of 65.9%, operating profit of $258.5 million with
          operating margin of 27.4%, and an income tax provision of $57.3
          million with the Non-GAAP effective tax rate of 25.0% with the above
          adjustments.
          For the three months ended June 30, 2012, Non-GAAP earnings resulted
          in total revenue of $949.6 million, gross profit of $621.2 million
          with gross margin of 65.4%, operating profit of $271.3 million with
          operating margin of 28.6%, and an income tax provision of $66.1
          million with the Non-GAAP effective tax rate of 27.6% with the above
          adjustments.
Notes
          Adjust for historical portion of royalty licensing settlement of
^(1)      $2.8 million for the three months ended June 30, 2013. Add back
          purchased deferred revenue of $0.5 million and $0.3 million for the
          three months ended June 30, 2013 and 2012, respectively.
          Add back amortization of purchased intangibles of $70.9 million and
          amortization of a fair value inventory write-up of $0.7 million,
^(2)      offset by contingent consideration revaluation of $3.4 million for
          the three months ended June 30, 2013. Add back amortization of
          purchased intangibles of $76.0 million for the three months ended
          June 30, 2012.
          Add back contingent consideration revaluation of $1.0 million,
          depreciation of purchase accounting property, plant, and equipment
          revaluation of $0.3 million for the three months ended June 30,
          2013. Add back depreciation of purchase accounting property, plant,
          and equipment revaluation of $0.9 million for the three months ended
^(3)      June 30, 2012. Add back business consolidation costs including
          restructuring and integrating acquired entities, aligning acquired
          and existing operations through business transformation activities
          and costs associated with divesting entities of $28.3 million and
          $9.4 million for the three months ended June 30, 2013 and 2012,
          respectively.
^(4)      Add back other non-recurring charges for the three months ended June
          30, 2012.
          Non-GAAP tax adjustment due to the exclusion of the aforementioned
          business combination related charges, non cash charges, and one-time
^(5)      costs which are not indicative of the profitability or cash flows of
          the Company's ongoing or future operations. These deductions produce
          a GAAP only tax benefit which is added back for Non-GAAP
          presentation.
^(6)      Non-GAAP net loss attributable to non-controlling interest, net of
          tax benefit.
          The Company reports Non-GAAP results which excludes costs that are
          not indicative of the profitability or cash flows of the Company's
          ongoing or future operations. Such costs are restructuring cost,
          business transformation expenses, amortization and depreciation of
          deferred revenue, intangibles assets, and fixed assets, and
          revaluation charges for inventories, contingent consideration
          liabilities, asset impairments, and in process research and
          development expenses, incurred as a result of business combinations
          as well as the impact from the divestiture and discontinuance of
          product lines. The Company also excludes noncash interest expense
          associated with convertible debt bifurcation and noncash charges
          associated with non-controlling interests. In addition, the Company
          excludes one-time costs including the early repayment of debt and
          the associated impacts, and the impact of certain settlements in
          order to provide a supplemental comparison of the results of
          operations.



LIFE TECHNOLOGIES CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
                                                  For the six    For the six
                                                  months         months
(in thousands, except per share data)             ended June     ended June
                                                  30, 2013       30, 2012
(unaudited)
                                                  $        $      
Revenues                                                        
                                                  1,908,320     1,888,423
Cost of revenues                                  644,639        642,041
Purchased intangibles                             143,245        148,066
amortization
                            Gross profit          1,120,436      1,098,316
Gross margin                                      58.7%          58.2%
Operating expenses:
             Selling, general and administrative  547,616        519,447
             Research and development             172,106        173,413
             Business consolidation costs         54,998         23,696
                        Total operating expenses  774,720        716,556
                            Operating income      345,716        381,760
Operating margin                                  18.1%          20.2%
             Interest                             1,217          1,279
             income
             Interest                             (57,014)       (64,975)
             expense
             Other expense,                       (4,388)        (8,316)
             net
                        Total other expense, net  (60,185)       (72,012)
Income from operations before provision for
 income taxes                                 285,531        309,748
Income tax provision                              (38,006)       (54,806)
                            Net income            247,525        254,942
                            Net loss attributable
                            to non-controlling    311            51
                            interests
                            Net income            $        $      
                            attributable to          247,836     254,993
                            controlling interest
Effective tax rate                               13.3%          17.7%
Add back interest expense for subordinated
 debt, net of tax                              -              12
Numerator for diluted
earnings
 per share                                       $        $      
                                                     247,836     255,005
Earnings per common share:
             Basic earnings per share             $        $      
             attributable to controlling interest               
                                                  1.44          1.43
             Diluted earnings per share           $        $      
             attributable to controlling interest               
                                                  1.42          1.40
Weighted average shares used in per share
calculation:
             Basic                                171,661        178,521
             Diluted                              175,020        182,210



LIFE TECHNOLOGIES CORPORATION
ITEMIZED RECONCILIAITON BETWEEN
GAAP AND NON-GAAP NET INCOME
                                        For the six         For the six
                                        months              months
(in thousands, except per share data)   ended June 30,      ended June
                                        2013                30, 2012
(unaudited)
GAAP net income                        $             $      
                                           247,525          254,942
  Non-GAAP revenue adjustments
         Purchase accounting related    857                 642
         adjustments
         Charges on a discontinued      -                   (457)
         product
         Historical portion of          (2,774)             -
         licensing settlement
  Total Non-GAAP revenue adjustments    (1,917)        ^(1) 185           ^(1)
  Non-GAAP cost of revenues and
  purchased intangible adjustments
         Purchased intangibles          143,245             148,066
         amortization
         Purchase accounting related    (2,015)             -
         adjustments
         Historical portion of          -                   (169)
         licensing settlement
  Total Non-GAAP cost of revenues and   141,230        ^(2) 147,897       ^(2)
  purchased intangible adjustments
  Non-GAAP operating expense
  adjustments:
               Purchase accounting      1,827               1,849
               related adjustments
               Business consolidation   54,998              23,696
               costs
               Settlement of historical
               portion of licensing     -                   (934)
               dispute
  Total Non-GAAP operating expense      56,825         ^(3) 24,611        ^(3)
  adjustments
  Non-GAAP other expense adjustments:
               Noncash interest expense -                   5,382
               charges
               Other expense            -                   5,302
  Total Non-GAAP other expense          -                   10,684        ^(4)
  adjustments
  Non-GAAP income tax provision
  adjustments:
               Income tax adjustments   (85,193)       ^(5) (83,128)      ^(5)
  Total Non-GAAP income tax provision   (85,193)            (83,128)
  adjustments
Non-GAAP Net Income                     $             $      
                                           358,470          355,191
  Non-GAAP loss attributable to         311            ^(6) 51            ^(6)
  controlling interest
Non-GAAP Net Income Attributable to     $             $      
Controlling Interest                       358,781          355,242
Add back interest expense for           -                   12
subordinated debt, net of tax
Non-GAAP Numerator for diluted earnings $             $      
per share                                  358,781          355,254
Non-GAAP Earnings per common share:
  Basic earnings per share attributable $             $      
  to controlling interest                                  
                                        2.09               1.99
  Diluted earnings per share            $             $      
  attributable to controlling interest                     
                                        2.05               1.95
Weighted average shares used in per
share calculation:
  Basic                                 171,661             178,521
  Diluted                               175,020             182,210

Summary of Reconciliation between GAAP and
Non-GAAP Net Income
          For the six months ended June 30, 2013, Non-GAAP earnings resulted
          in total revenue of $1.9 billion, gross profit of $1.3 billion with
          gross margin of 66.1%, operating profit of $541.9 million with
          operating margin of 28.4%, and an income tax provision of $123.2
          million with the Non-GAAP effective tax rate of 25.6% with the above
          adjustments.
          For the six months ended June 30, 2012, Non-GAAP earnings resulted
          in total revenue of $1.9 billion, gross profit of $1.2 billion with
          gross margin of 66.0%, operating profit of $554.5 million with
          operating margin of 29.4%, and an income tax provision of $137.9
          million with the Non-GAAP effective tax rate of 28.0% with the above
          adjustments.
Notes
          Adjust for historical portion of royalty licensing settlement of
          $2.8 million, and add back purchased deferred revenue of $0.8
^(1)      million for the six months ended June 30, 2013. Add back purchased
          deferred revenue of $0.6 million and adjust for revenue related to a
          discontinued product of $0.5 million for the six months ended June
          30, 2012.
          Add back amortization of purchased intangibles of $143.2 million and
          amortization of a fair value inventory write-up of $1.5 million,
          offset by contingent consideration revaluation of $3.5 million for
^(2)      the three months ended June 30, 2013. Add back amortization of
          purchased intangibles of $148.1 million and adjust for $0.2 million
          related to the historical portion of the settlement of a licensing
          dispute for the six months ended June 30, 2012.
          Add back contingent consideration revaluation of $1.0 million and
          depreciation of purchase accounting property, plant, and equipment
          revaluation of $0.8 million for the six months ended June 30, 2013.
          Add back depreciation of purchase accounting property, plant, and
          equipment revaluation of $1.8 million and adjust for compensation
          cost of $0.9 million related to the historical portion of the
^(3)      settlement of a licensing disputefor the three months ended June 30,
          2012. Add back business consolidation costs including restructuring
          and integrating acquired entities, aligning acquired and existing
          operations through business transformation activities and costs
          associated with divesting entities of $55.0 million and $23.7
          million for the six months ended June 30, 2013 and 2012,
          respectively.
          Add back charges associated with a divestiture activity of $5.3
          million, charges related to non-cash interest expense for senior
^(4)      convertible debts of $1.7 million and the extinguishment of a line
          of credit facility of $3.7 million for the six months ended June 30,
          2012.
          Non-GAAP tax adjustment due to the exclusion of the aforementioned
          business combination related charges, non cash charges, and one-time
^(5)      costs which are not indicative of the profitability or cash flows of
          the Company's ongoing or future operations. These deductions produce
          a GAAP only tax benefit which is added back for Non-GAAP
          presentation.
^(6)      Non-GAAP net loss attributable to non-controlling interest, net of
          tax benefit.
          The Company reports Non-GAAP results which excludes costs that are
          not indicative of the profitability or cash flows of the Company's
          ongoing or future operations. Such costs are restructuring cost,
          business transformation expenses, amortization and depreciation of
          deferred revenue, intangibles assets, and fixed assets, and
          revaluation charges for inventories, contingent consideration
          liabilities, asset impairments, and in process research and
          development expenses, incurred as a result of business combinations
          as well as the impact from the divestiture and discontinuance of
          product lines. The Company also excludes noncash interest expense
          associated with convertible debt bifurcation and noncash charges
          associated with non-controlling interests. In addition, the Company
          excludes one-time costs including the early repayment of debt and
          the associated impacts, and the impact of certain settlements in
          order to provide a supplemental comparison of the results of
          operations.



LIFE TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
                                           June 30,           December 31,
(in thousands)                             2013               2012
ASSETS                                     (unaudited)
Current assets:
 Cash and short-term investments           $    290,379    $    276,369
 Trade accounts receivable, net of         675,725            697,228
 allowance for doubtful accounts
 Inventories                               416,833            403,488
 Prepaid expenses and other current assets 299,879            248,154
  Total current assets                 1,682,816          1,625,239
Long-term assets                           6,800,931          7,012,826
  Total assets                         $  8,483,747     $   8,638,065
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 Current portion of long-term debt         $      4,208  $    253,214
 Short-term borrowings                     143,000            100,000
 Accounts payable, accrued expenses and    787,035            839,137
 other current liabilities
  Total current liabilities            934,243            1,192,351
Long-term debt                             2,068,224          2,060,855
Other long-term liabilities                660,928            731,396
Stockholders' equity                       4,820,352          4,653,463
  Total liabilities and stockholders'   $  8,483,747     $   8,638,065
 equity



LIFE TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                     For the six months
                                                     ended June 30,
(in thousands)(unaudited)                            2013          2012
Net income                                           $ 247,525     $ 254,942
              Add back amortization and
               share-based compensation           188,080       197,206
              Add back depreciation                  61,681        62,005
              Balance sheet changes                  (67,091)      (46,413)
              Other noncash adjustments              (76,222)      (107,773)
Net cash provided by operating activities            353,973       359,967
              Capital expenditures                   (46,366)      (49,075)
              Proceeds from sale of assets          36,729        328
Free cash flow                                       344,336       311,220
Net cash used in investing activities                (74,315)      (61,101)
Net cash used in financing activities                (259,346)     (822,918)
Effect of exchange rate changes on cash              (6,122)       (5,995)
Net (decrease) increase in cash and cash equivalents $   4,553  $ (578,794)



SOURCE Life Technologies Corporation

Website: http://www.lifetechnologies.com