April 28, 2009 / 9:04 PM / 10 years ago

UPDATE 1-Life Tech profit tops Street view, shares rise

* Q1 net EPS $0.09, non-GAAP EPS $0.72

* Still sees 2009 EPS of $2.40 to $2.50

* Shares up 7.7 pct after hours

NEW YORK, April 28 (Reuters) - Life Technologies Corp (LIFE.O), a maker of tools and equipment used in genetic testing and stem cell research, reported first-quarter earnings that blew past Wall Street expectations as merger-related benefits and cost savings improved operating margins.

Excluding items, such as 59 cents per share for merger and integration related charges, the company earned 72 cents per share. That topped analysts’ average expectations by 15 cents, according to Reuters Estimates and Life shares rose 7.7 percent in extended trading.

Life Technologies was created by the merger of Invitrogen and Applied Biosystems.

The Carlsbad, California-based company posted a net profit of $15.6 million, or 9 cents per share, compared with a profit of $53.5 million, or 53 cents per share, a year ago.

Life said it still expects low single-digit organic revenue growth for the full year with earnings of $2.40 to $2.55 per share, excluding items. Analysts are looking for $2.52 per share.

Life Technologies shares rose to $34.50 in after hours trading from their Nasdaq close at $32.03. (Reporting by Bill Berkrot; Editing by Richard Chang)

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