July 28, 2009 / 8:32 PM / 8 years ago

UPDATE 1-Life Technologies 2nd-qtr profit beats estimates

* Q2 net EPS $0.22, non-GAAP EPS $0.79

* Raises 2009 EPS outlook to $2.70 to $2.80

* Shares rise 8 percent

LOS ANGELES, July 28 (Reuters) - Life Technologies Corp (LIFE.O), a maker of tools and equipment used in genetic testing and stem cell research, on Tuesday reported a second-quarter profit that beat Wall Street estimates, helped by integration-related combinations and better pricing.

The company, which was created by the merger of Invitrogen and Applied Biosystems, also raised its outlook for full-year earnings and shares rose 8 percent in after-market trading.

Excluding items, such as 42 cents per share for merger and integration-related charges, the company earned 79 cents per share, topping the average analyst estimate of 66 cents per share, according to Reuters Estimates.

The Carlsbad, California-based company posted a net profit of 22 cents per share, compared with 55 cents a year ago.

Non-GAAP revenue rose 2 percent to $839 million.

Life said it now expects mid single-digit organic revenue growth for the full year with earnings of $2.70 to $2.80 per share, excluding items. The company had previously forecast full-year earnings of $2.40 to $2.55 per share.

Life Technologies shares rose to $46.40 in after hours trading from their Nasdaq close at $42.91.

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