Life Technologies Corporation (LIFE) Misses Q2 EPS by 6c, Offers 2H 2011 Guidance, Adds $200 Million to Buyback Plan
Life Technologies Corporation (NASDAQ: LIFE) reported Q2 EPS of $0.89, $0.06 worse than the analyst estimate of $0.95. Revenue for the quarter came in at $945 million versus the consensus estimate of $960.78 million.
Looking ahead to the second half of 2011, the company expects constant currency revenue growth to be between 3 and 5 percent.
Resulting fiscal year 2011 constant currency revenue growth is expected to be between 2 and 4 percent. This level of revenue growth is expected to result in approximately $3.70 to $3.80 of non-GAAP earnings per share.
The company announced a $200 million share repurchase program. In total, the company now has authorization to repurchase up to $500 million in shares on the open market, subject to market conditions and other factors.
Looking ahead to the second half of 2011, the company expects constant currency revenue growth to be between 3 and 5 percent.
Resulting fiscal year 2011 constant currency revenue growth is expected to be between 2 and 4 percent. This level of revenue growth is expected to result in approximately $3.70 to $3.80 of non-GAAP earnings per share.
The company announced a $200 million share repurchase program. In total, the company now has authorization to repurchase up to $500 million in shares on the open market, subject to market conditions and other factors.