Life Technologies Corporation (LIFE: Quote) Tuesday reported second-quarter net income attributable to controlling interest of $122.4 million or $0.67 per share, compared to $95.5 million or $0.52 per share last year.
Adjusted net income for the quarter was $173.9 million or $0.96 per share, compared to $163.6 million or $0.89 per share last year. On average, 22 analysts polled by Thomson Reuters expected the company to report profit of $0.97 per share. Analysts' estimates typically exclude special items.
Revenues for the second quarter increased to $950 million from $945 million last year. Analysts estimated revenues of $945.19 million for the quarter.
Going forward, the company now expects full year 2012 organic revenue growth at the low end of its previously provided range of 2 to 4 percent over 2011 revenues of $3.7 billion.
The company now expects earnings for the full year of in a range of $3.90 to $4.00 per share, compared to prior estimate of $3.90 to $4.05 per share.
Analysts currently expects earnings of $4.00 per share on revenues of $3.83 billion for fiscal year 2012.
The company also approved a share repurchase program, authorizing to purchase up to $750 million of its common stock.
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by RTT Staff Writer
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