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/C O R R E C T I O N -- Life Technologies Corporation/

In the news release, Life Technologies Announces Third Quarter 2012 Results, issued 01-Nov-2012 by Life Technologies Corporation over PR Newswire, we are advised by the company that on November 1, 2012 the Company received an unfavorable verdict in its litigation with Enzo Biochem. The Company does not expect this verdict to have a material impact on its business going forward as this intellectual property was held by Enzo Biochem during the period 1998-2004 and the patent expired in 2004. Although the Company strongly disagrees with the verdict and intends to vigorously challenge it in the trial court and on appeal, the Company has recorded a charge of $48.5 million related to the lawsuit in the third quarter of fiscal 2012. As a result, the Company's previously reported third quarter 2012 GAAP diluted earnings per share will decrease $0.18 per share from $0.55 per share to $0.37 per share. The verdict did not impact the non-GAAP diluted earnings per share. The Company has provided revised financial statements and reconciliations between GAAP and Non-GAAP Net Income. The complete, corrected release follows:

Life Technologies Announces Third Quarter 2012 Results

Revenue of $911 million

GAAP earnings per share (EPS) of $0.37, or $0.92 on a non-GAAP basis

Free Cash Flow of $177 million

Company repurchased $208 million of shares in the third quarter, total of $535 million year-to-date

CARLSBAD, Calif., Nov. 1, 2012 /PRNewswire/ -- Life Technologies Corporation (NASDAQ: LIFE) today announced results for its third quarter ended September 30, 2012. Revenue for the third quarter was $911 million, a decrease of 1.9 percent over the $929 million reported for the third quarter of 2011. Excluding the impact of currency, revenue growth for the quarter was 1.4 percent compared to the same period of the prior year.

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

"Our third quarter performance came in stronger than our expectations driven by a significant increase in Ion Torrent platform sales, as well as increased sales in our research consumables and forensics businesses," said Gregory T. Lucier, chairman and chief executive officer of Life Technologies. "During the quarter, we made solid progress in expanding our operations and footprint in high growth and emerging markets, including entering into strategic partnerships for companion diagnostics, building the foundation for our Medical Sciences business and acquiring distributors in China and Chile. We achieved important milestones with several highly anticipated launches including the Ion Proton System, a platform whose speed, ease of use and affordability will democratize genome sequencing, and our Pervenio Lung RS test service, the first of its kind molecular test to identify early-stage lung cancer patients who are at high risk of reoccurrence following surgery."

"We continue to demonstrate our commitment to returning capital to shareholders by repurchasing an additional $208 million worth of shares in the third quarter, bringing our year-to-date total to $535 million. Based on our performance year-to-date and end market assumptions, we are tightening the full year guidance range by increasing the bottom end by $0.05 and are now expecting non-GAAP earnings per share of $3.95 to $4.00."

Life Technologies reported current quarter results compared to the quarter ended September 30, 2011. Results are non-GAAP unless indicated otherwise. A full reconciliation of the non-GAAP measures to GAAP can be found in the tables of today's press release.

Analysis of Third Quarter 2012 Results

  • Third quarter revenue decreased 1.9 percent over the prior year. Revenue growth without the impact from currency was 1.4 percent.
  • Gross margin in the third quarter was 65.6 percent, approximately 50 basis points lower than the same period of the prior year primarily driven by unfavorable currency rates.
  • Operating margin was 28.0 percent in the third quarter, approximately 140 basis points lower than the same period of the prior year. Operating margin contraction was primarily due to unfavorable currency rates and increased investments in Greater China and Medical Sciences.
  • Third quarter tax rate was 27.3 percent.
  • Third quarter EPS was $0.92.
  • Diluted weighted shares outstanding were 177.3 million in the third quarter, a decrease of 9.6 million shares over the prior year. The decrease was a result of the continuation of the company's share repurchase program, partially offset by shares issued for employee stock plans. The company repurchased $208 million or 4.4 million shares in the third quarter.
  • Cash flow from operating activities for the third quarter was $197 million. Third quarter capital expenditures were $20 million, resulting in free cash flow of $177 million. The company ended the quarter with $299 million in cash and short-term investments.

Business Group Highlights

  • Research Consumables revenue was $384 million, a decrease of 3 percent compared to the prior year. Excluding the impact from currency, revenue for the business group grew 1 percent, primarily as a result of growth in our cell culture products, sample prep products and benchtop instruments.
  • Genetic Analysis revenue was $353 million in the third quarter, a decrease of 1 percent over the same period last year. Excluding the impact from currency, revenue increased 2 percent primarily as a result of increased sales of the Ion Torrent platform, including the Ion Proton System and the Ion PGM benchtop instruments, offset by an expected decline in SOLiD® instrument sales and lower sales of CE instruments, primarily due to one-time orders in the prior year quarter and the timing of sales.
  • Applied Sciences revenue was $174 million in the third quarter, flat compared to the same period last year. Excluding the impact from currency, revenue increased 3 percent, primarily due to forensics and higher sales of qPCR applied sciences instruments, offset by lower sales of CE instruments due to one-time orders in the prior year quarter, and an expected decline in BioProduction sales, which tend to fluctuate quarter to quarter.
  • Regional revenue growth rates excluding currency for the quarter compared to the same quarter of the prior year were as follows: the Americas declined 1 percent, Europe grew 2 percent, Asia Pacific grew 10 percent and Japan grew 4 percent.

Fiscal Year 2012 Outlook

Subject to the risk factors detailed in the Safe Harbor Statement section of this release, the company is updating its guidance. The company's updated 2012 guidance is for organic revenue growth of approximately 2 percent over 2011 revenues of $3.7 billion. Additionally, the company is tightening the previously provided range by increasing the bottom by $0.05 and is now expecting non-GAAP earnings per share of $3.95 to $4.00. The company will provide further detail on its business outlook during the webcast today.

The Ion Proton System is for Research Use Only and not intended for use in diagnostic procedures.

Webcast Details

The company will discuss its financial and business results as well as its business outlook on its webcast at 4:30 PM ET today. This webcast will contain forward-looking information. The webcast will include a discussion of "non-GAAP financial measures" as that term is defined in Regulation G. For actual results, the most directly comparable GAAP financial measures and information reconciling these non-GAAP financial measures to the company's financial results determined in accordance with GAAP, as well as other material financial and statistical information to be discussed on the webcast will be posted at the company's investor relations website at https://ir.lifetechnologies.com. The webcast can be accessed through the investor relations page of the company's website at https://ir.lifetechnologies.com/events.cfm. A replay of the webcast will be available on the company's website through Thursday, November 22, 2012.

About Life Technologies

Life Technologies Corporation (NASDAQ: LIFE) is a global biotechnology company with customers in more than 160 countries using its innovative solutions to solve some of today's most difficult scientific challenges. Quality and innovation are accessible to every lab with its reliable and easy-to-use solutions spanning the biological spectrum with more than 50,000 products for agricultural biotechnology, translational research, molecular medicine and diagnostics, stem cell-based therapies, forensics, food safety and animal health. Its systems, reagents and consumables represent some of the most cited brands in scientific research including: Ion Torrent™, Applied Biosystems®, Invitrogen™, GIBCO®, Ambion®, Molecular Probes®, Novex®, and TaqMan®. Life Technologies employs approximately 10,400 people and upholds its ongoing commitment to innovation with more than 4,000 patents and exclusive licenses. LIFE had sales of $3.7 billion in 2011. 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. 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; and corporate strategy and performance. 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 materially from 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.

Non-GAAP Measurements

This press release 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 on the investor relations portion of the company's website at www.lifetechnologies.com.

Investor and Financial Contact
Carol Cox
Investor Relations
(760) 603-7208
[email protected]

LIFE TECHNOLOGIES CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS










For the three months


For the three months

(in thousands, except per share data)

ended September 30, 2012


ended September 30, 2011

(unaudited)











Revenues


$          911,183


$             928,198

Cost of revenues

361,571


315,062

Purchased intangibles amortization

71,126


73,901



Gross profit

478,486


539,235

Gross margin


52.5%


58.1%

Operating expenses:





Selling, general and administrative

270,565


251,832


Research and development

84,811


103,856


Business consolidation costs

10,571


23,126



Total operating expenses

365,947


378,814




Operating income

112,539


160,421

Operating margin

12.4%


17.3%


Interest income

436


919


Interest expense

(29,291)


(37,992)


Other expense, net

(2,781)


(3,039)



Total other expense, net

(31,636)


(40,112)

Income from operations before provision for 




     income taxes

80,903


120,309

Income tax provision

(15,301)


(24,335)




Net income

65,602


95,974




Net loss attributable to non-controlling interests

255


297




Net income attributable to controlling interest

$          65,857


$             96,271








Effective tax rate 

18.9%


20.2%

Add back interest expense for subordinated




    debt, net of tax

-


650

Numerator for diluted earnings




  per share


$          65,857


$             96,921








Earnings per common share:





Basic earnings per share attributable to controlling interest

$              0.38


$                  0.54









Diluted earnings per share attributable to controlling interest

$              0.37


$                  0.52








Weighted average shares used in per share calculation:





Basic


174,044


179,859


Diluted


177,258


186,812















LIFE TECHNOLOGIES CORPORATION

ITEMIZED RECONCILIATION BETWEEN

GAAP AND NON-GAAP NET INCOME















For the three months


For the three months


(in thousands, except per share data)

ended September 30, 2012


ended September 30, 2011


(unaudited)















GAAP net income 

$         65,602


$       95,974












Non-GAAP revenue adjustments








Purchase accounting related adjustments 

193


644





Charges on a discontinued product

-


(101)



Total Non-GAAP revenue adjustments

193

(1)

543

(1)











Non-GAAP cost of revenues and purchased intangible adjustments








Purchased intangibles amortization

71,126


73,901





Purchase accounting related adjustments 

-


(183)





Legal judgment

48,500


-



Total Non-GAAP cost of revenues and purchased intangible adjustments

119,626

(2)

73,718

(2)











Non-GAAP Operating Expense Adjustments:








Purchase accounting related adjustments 

1,019


15,367





Business consolidation costs

10,571


23,126





Legal settlement

11,400


-



Total Non-GAAP Operating Expense Adjustments

22,990

(3)

38,493

(3)











Non-GAAP Other Expense Adjustments:








Noncash interest expense charges 

-


6,572



Total Non-GAAP Other Expense Adjustments

-


6,572

(4)











Non-GAAP Income Tax Provision Adjustments:








Income tax adjustments

(45,740)


(40,612)



Total Non-GAAP Income Tax Provision Adjustments

(45,740)

(5)

(40,612)

(5)










Non-GAAP Net Income

$      162,671


$     174,688



Non-GAAP loss attributable to controlling interest

255

(6)

193

(6)

Non-GAAP Net Income Attributable to Controlling Interest

$      162,926


$     174,881











Add back of interest expense for subordinated debt, net of tax

-


32











Non-GAAP Numerator for diluted earnings per share

$      162,926


$     174,913











Non-GAAP Earnings per common share:






Basic earnings per share attributable to controlling interest

$             0.94


$            0.97












Diluted earnings per share attributable to controlling interest

$             0.92


$            0.94











Weighted average shares used in per share calculation:






Basic



174,044


179,859



Diluted


177,258


186,812




















Summary of Reconciliation between GAAP and Non-GAAP Net Income


For the three months ended September 30, 2012, Non-GAAP earnings resulted in total revenue of $911.4 million, gross profit of $598.3 million with gross margin of 65.6%, operating profit of $255.3 million with operating margin of 28.0%, and an income tax provision of $61.0 million with the Non-GAAP effective tax rate of 27.3% with the above adjustments.




For the three months ended September 30, 2011, Non-GAAP earnings resulted in total revenue of $928.7 million, gross profit of $613.5 million with gross margin of 66.1%, operating profit of $273.2 million with operating margin of 29.4%, and an income tax provision of $64.9 million with the Non-GAAP effective tax rate of 27.1%  with the above adjustments.



Notes

(1)

Add back purchased deferred revenue of $0.2 million and $0.6 million for the three months ended September 30, 2012 and 2011, respectively, and adjust revenue related to returns of a discontinued product of $0.1 million for the three months ended September 30, 2011.



(2)

Add back amortization of purchased intangibles of $71.1 million and $73.9 million for the three months ended September 30, 2012 and 2011, respectively. Add back the legal judgment of $48.5 million for the three months ended September 30, 2012, and adjust charges for a contingent consideration remeasurement of $0.2 million for the three months ended September 30, 2011.



(3)

Add back depreciation of purchase accounting property, plant, and equipment revaluation of $1.0 million and $1.7 million, and 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 $10.6 million and $23.1 million for the three months ended September 30, 2012 and 2011, respectively. Add back legal settlement of $11.4 million for the three months ended September 30, 2012, and add back purchase accounting contingent consideration fair value adjustment of $13.7 million for the three months ended September 30, 2011.



(4)

Add back charges related to non-cash interest expense for senior convertible debts of $5.1 million and imputed finance charge of $1.5 million associated with contingent consideration on business acquisitions for the three months ended September 30, 2011.



(5)

Non-GAAP tax adjustment due to the exclusion of the aforementioned business combination related charges, non cash charges, and one-time 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, adjusted for noncash charges for purchase accounting property, plant, and equipment revaluation, 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 nine months


For the nine months

(in thousands, except per share data)

ended September 30, 2012


ended September 30, 2011

(unaudited)











Revenues


$         2,799,606


$      2,765,227

Cost of revenues

1,003,611


955,840

Purchased intangibles amortization

219,192


226,527




Gross profit

1,576,803


1,582,860

Gross margin

56.3%


57.2%

Operating expenses:





Selling, general and administrative

790,012


759,438


Research and development

258,225


287,723


Business consolidation costs

34,266


56,468



Total operating expenses

1,082,503


1,103,629




Operating income

494,300


479,231

Operating margin

17.7%


17.3%


Interest income

1,715


2,960


Interest expense

(94,266)


(123,911)


Other expense, net

(11,097)


(7,980)



Total other expense, net

(103,648)


(128,931)

Income from operations before provision for 




     income taxes

390,652


350,300

Income tax provision

(70,108)


(65,534)




Net income

320,544


284,766




Net loss attributable to non-controlling interests

305


658




Net income attributable to controlling interest

$         320,849


$       285,424








Effective tax rate 

17.9%


18.7%

Add back interest expense for subordinated




    debt, net of tax

12


716

Numerator for diluted earnings




  per share

$         320,861


$       286,140








Earnings per common share:





Basic earnings per share attributable to controlling interest

$                1.81


$              1.59









Diluted earnings per share attributable to controlling interest

$                1.78


$              1.54








Weighted average shares used in per share calculation:





Basic


177,028


179,751


Diluted

180,559


185,946















LIFE TECHNOLOGIES CORPORATION

ITEMIZED RECONCILIATION BETWEEN

GAAP AND NON-GAAP NET INCOME















For the nine months


For the nine months


(in thousands, except per share data)

ended September 30, 2012


ended September 30, 2011


(unaudited)















GAAP net income 

$      320,544


$        284,766












Non-GAAP revenue adjustments








Purchase accounting related adjustments 

835


2,375





Charges on a discontinued product

(457)


2,736



Total Non-GAAP revenue adjustments

378

(1)

5,111

(1)











Non-GAAP cost of revenues and purchased intangible adjustments








Purchased intangibles amortization

219,192


226,527





Purchase accounting related adjustments 

-


(1,555)





Charges on a discontinued product

-


2,094





Legal judgement and settlement of historical portion of licensing dispute

48,331


-



Total Non-GAAP cost of revenues and purchased intangible adjustments

267,523

(2)

227,066

(2)











Non-GAAP Operating Expense Adjustments:








Purchase accounting related adjustments 

2,869


20,886





Business consolidation costs

34,266


56,468





Licensing and legal settlements

10,467


-



Total Non-GAAP Operating Expense Adjustments

47,602

(3)

77,354

(3)











Non-GAAP Other Expense Adjustments:








Noncash interest expense charges 

5,382


24,130





Other expense

5,302


-



Total Non-GAAP Other Expense Adjustments

10,684

(4)

24,130

(4)











Non-GAAP Income Tax Provision Adjustments:








Income tax adjustments

(128,868)


(122,610)



Total Non-GAAP Income Tax Provision Adjustments

(128,868)

(5)

(122,610)

(5)










Non-GAAP Net Income

$      517,863


$        495,817



Non-GAAP loss attributable to controlling interest

305

(6)

350

(6)

Non-GAAP Net Income Attributable to Controlling Interest

$      518,168


$        496,167











Add back interest expense for subordinated debt, net of tax

12


98











Non-GAAP Numerator for diluted earnings per share

$      518,180


$        496,265











Non-GAAP Earnings per common share:






Basic earnings per share attributable to controlling interest

$             2.93


$               2.76












Diluted earnings per share attributable to controlling interest

$             2.87


$               2.67











Weighted average shares used in per share calculation:






Basic


177,028


179,751



Diluted


180,559


185,946




















Summary of Reconciliation between GAAP and Non-GAAP Net Income


For the nine months ended September 30, 2012, Non-GAAP earnings resulted in total revenue of $2.8 billion, gross profit of $1.8 billion with gross margin of 65.9%, operating profit of $809.8 million with operating margin of 28.9%, and an income tax provision of $199.0 million with the Non-GAAP effective tax rate of 27.8% with the above adjustments.




For the nine months ended September 30, 2011, Non-GAAP earnings resulted in total revenue of $2.8 billion, gross profit of $1.8 billion with gross margin of 65.5%, operating profit of $788.8 million with operating margin of 28.5%, and an income tax provision of $188.1 million with the Non-GAAP effective tax rate of 27.5%  with the above adjustments.










Notes


(1)

Add back purchased deferred revenue of $0.8 million and adjust for revenue related to a discontinued product of $0.5 million for the nine months ended September 30, 2012.  Add back purchased deferred revenue of $2.4 million and revenue related to returns of a discontinued product of $2.7 million for the nine months ended September 30, 2011.



(2)

Add back amortization of purchased intangibles of $219.2 million and a legal judgment of $48.5 million partially offset by  $0.2 million related to the historical portion of the settlement of licensing disputes for the nine months ended September 30, 2012.  Add back amortization of purchased intangibles of $226.5 million, charges for inventory reserves related to a discontinued product of $2.1 million, and purchase accounting related cost of revenue revaluation of $0.5 million which was offset by contingent consideration revaluation of $2.1 million for the nine months ended September 30, 2011. 



(3)

Add back depreciation of purchase accounting property, plant, and equipment revaluation of $2.9 million, and add back legal settlement of $11.4 million and adjust for compensation cost of $0.9 million related to the historical portion of the settlement of a licensing dispute for the nine months ended September 30, 2012.   Add back depreciation of purchase accounting property, plant, and equipment revaluation of $5.7 million, purchase accounting contingent consideration fair value adjustment of $13.7 million and accelerated compensation expense related to business acquisitions of $1.5 million for the nine months ended September 30, 2011. 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 $34.3 million and $56.5 million for the nine months ended September 30, 2012 and 2011, respectively. 



(4)

Add back charges associated with a divestiture activity of $5.3 million, charges related to non-cash interest expense for senior convertible debts of $1.7 million and the extinguishment of a line of credit facility of $3.7 million for the nine months ended September 30, 2012. Add back charges related to non-cash interest expense for senior convertible debts of $19.5 million and charges for imputed finance charge of $4.6 million associated with contingent consideration on business acquisitions for the nine months ended September 30, 2011.



(5)

Non-GAAP tax adjustment due to the exclusion of the aforementioned business combination related charges, non cash charges, and one-time 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, adjusted for noncash charges for purchase accounting property, plant, and equipment revaluation, 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 STATEMENTS OF CASH FLOWS


















For the nine months



ended September 30,

(in thousands)(unaudited)

2012


2011

Net income

$            320,544


$         284,766


Add back amortization and 





    share-based compensation

292,918


289,912


Add back depreciation

93,617


90,988


Balance sheet changes

(42,539)


(153,355)


Other noncash adjustments

(107,755)


(19,104)

Net cash provided by operating activities

556,785


493,207


Capital expenditures

(68,385)


(65,779)

Free cash flow

488,400


427,428

Net cash used in investing activities

(72,057)


(48,645)

Net cash used in financing activities

(980,524)


(601,228)

Effect of exchange rate changes on cash

(420)


3,092

Net decrease in cash and cash equivalents

$           (564,601)


$       (219,353)






LIFE TECHNOLOGIES CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS


















September 30, 


December 31,

(in thousands)

2012


2011

ASSETS

 (unaudited) 



Current assets:





Cash and short-term investments

$               299,270


$             881,994


Trade accounts receivable, net of allowance for doubtful accounts

644,579


636,998


Inventories

400,680


377,866


Prepaid expenses and other current assets

251,160


196,759


     Total current assets

1,595,689


2,093,617






Long-term assets

6,962,346


7,094,346


     Total assets

$            8,558,035


$          9,187,963






LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:





Current portion of long-term debt

$               253,200


$             450,839


Short-term borrowings

140,000


-


Accounts payable, accrued expenses and other current liabilities

728,468


1,045,467


     Total current liabilities

1,121,668


1,496,306











Long-term debt

2,061,280


2,297,653

Other long-term liabilities

760,586


794,778

Stockholders' equity

4,614,501


4,599,226


    Total liabilities and stockholders' equity

$            8,558,035


$          9,187,963








SOURCE Life Technologies Corporation

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Wearable technology was dominant at this year’s International Consumer Electronics Show (CES) , and MWC was no exception to this trend. New versions of favorites, such as the Samsung Gear (three new products were released: the Gear 2, the Gear 2 Neo and the Gear Fit), shared the limelight with new wearables like Pebble Time Steel (the new premium version of the company’s previously released smartwatch) and the LG Watch Urbane. The most dramatic difference at MWC was an emphasis on presenting wearables as fashion accessories and moving away from the original clunky technology associated with t...
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
SOA Software has changed its name to Akana. With roots in Web Services and SOA Governance, Akana has established itself as a leader in API Management and is expanding into cloud integration as an alternative to the traditional heavyweight enterprise service bus (ESB). The company recently announced that it achieved more than 90% year-over-year growth. As Akana, the company now addresses the evolution and diversification of SOA, unifying security, management, and DevOps across SOA, APIs, microservices, and more.
GENBAND has announced that SageNet is leveraging the Nuvia platform to deliver Unified Communications as a Service (UCaaS) to its large base of retail and enterprise customers. Nuvia’s cloud-based solution provides SageNet’s customers with a full suite of business communications and collaboration tools. Two large national SageNet retail customers have recently signed up to deploy the Nuvia platform and the company will continue to sell the service to new and existing customers. Nuvia’s capabilities include HD voice, video, multimedia messaging, mobility, conferencing, Web collaboration, deskt...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborate. Cisco and our partners are building the platform for the Internet of Everything by connecting the...
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things compatible devices.
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed expressly to run Docker. He will also discuss Rancher, an orchestration and service discovery platf...
SYS-CON Events announced today that Akana, formerly SOA Software, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Akana’s comprehensive suite of API Management, API Security, Integrated SOA Governance, and Cloud Integration solutions helps businesses accelerate digital transformation by securely extending their reach across multiple channels – mobile, cloud and Internet of Things. Akana enables enterprises to share data as APIs, connect and integrate applications, drive part...
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.
SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional Social, Mobile and Cloud user experiences, our solutions help large and medium-sized organizations dr...
SYS-CON Events announced today that Liaison Technologies, a leading provider of data management and integration cloud services and solutions, has been named "Silver Sponsor" of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York, NY. Liaison Technologies is a recognized market leader in providing cloud-enabled data integration and data management solutions to break down complex information barriers, enabling enterprises to make smarter decisions, faster.
Cloud is not a commodity. And no matter what you call it, computing doesn’t come out of the sky. It comes from physical hardware inside brick and mortar facilities connected by hundreds of miles of networking cable. And no two clouds are built the same way. SoftLayer gives you the highest performing cloud infrastructure available. One platform that takes data centers around the world that are full of the widest range of cloud computing options, and then integrates and automates everything. Join SoftLayer on June 9 at 16th Cloud Expo to learn about IBM Cloud's SoftLayer platform, explore se...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the M2M space. This really allows some room for influential individuals to create more high value inter...
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
SYS-CON Events announced today that SafeLogic has been named “Bag Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SafeLogic provides security products for applications in mobile and server/appliance environments. SafeLogic’s flagship product CryptoComply is a FIPS 140-2 validated cryptographic engine designed to secure data on servers, workstations, appliances, mobile devices, and in the Cloud.
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
After making a doctor’s appointment via your mobile device, you receive a calendar invite. The day of your appointment, you get a reminder with the doctor’s location and contact information. As you enter the doctor’s exam room, the medical team is equipped with the latest tablet containing your medical history – he or she makes real time updates to your medical file. At the end of your visit, you receive an electronic prescription to your preferred pharmacy and can schedule your next appointment.