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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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Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now 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 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Communication) is an open source project supported by Google, Mozilla and Opera that aims to enable bro...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small, but are focused on specific tasks. The ability for developers to deploy multiple containers – thous...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on demos and comprehensive walkthroughs.
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as soon as they are needed to take action.
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.