* Q1 EPS $0.85 excluding items vs Street view $0.85
* Revenue $895.9 million
* Maintains full-year EPS forecast $3.80 to $3.95
* Shares fall 2.4 percent
(Adds unit and regional sales details, share price)
NEW YORK, April 26 Life Technologies Corp
(LIFE.O) reported first-quarter profit in line with Wall Street
expectations as growth in its cell systems business helped
offset a decline in genetic systems sales that was hurt by the
disasters in Japan.
Revenue for the quarter edged 1.2 percent higher to $895.9
million, but was shy of Wall Street estimates of $905.4
million, and Life Technologies shares fell more than 2 percent
in extended trading.
The maker of genetic testing and diagnostic tools and
equipment used for biotechnology research posted a net profit
of $93.6 million, or 50 cents per share, compared with a profit
of $91.5 million, or 48 cents per share, a year earlier.
Excluding items, Life earned 85 cents per share, matching
analysts' average expectations, according to Thomson Reuters
The company, which was formed by the merger of Invitrogen
and Applied Biosystems, maintained its full-year forecast for
revenue growth in the mid-single digits and earnings excluding
items of $3.80 to $3.95 per share.
Sales in molecular biology systems slipped 1 percent from a
particularly strong 2010 quarter for the company's biggest
unit, to $426 million.
Cell systems revenue rose 11 percent to $238 million, while
genetic systems sales, hurt by delayed shipment of its new gene
sequencer to Japan, fell 4 percent to $228 million.
Business in the Americas grew by an anemic 1 percent and by
2 percent in Europe. Japanese business declined 16 percent due
to disruptions caused by the earthquake and tsunami disasters.
Life Technologies shares fell to $53.25 after the earnings
report from their Nasdaq close at $54.56.
(Reporting by Bill Berkrot; Editing by Gary Hill)