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Home Industry News Life Technologies reports revenue growth in first quarter

Life Technologies reports revenue growth in first quarter

28th April 2010

Life Technologies has experienced a year-on-year increase in revenue during the first quarter of the year, driven by strong sales and key product launches.

According to the science group’s latest quarterly financial report, non-GAAP revenue for the three-month period was $887 million (584.4 million pounds), an increase of 13 per cent compared to the first quarter of 2009.

Contributing factors include double-digit growth in key areas such as molecular biology and genetic systems, while the launch of devices such as the 7500 Fast Dx Real-Time PCR Instrument and SOLiD 4 Sequencing System also played a part.

Gregory Lucier, chairman and chief executive officer of Life Technologies, said this performance was especially impressive given the company’s success in 2009.

He added: “Our singular focus on disciplined execution has enabled us to successfully navigate through a tough economic period while still increasing our investment in new technologies and markets.”

Earlier this month, the company agreed a deal with the founders of gene synthesis specialist Geneart, which will see the company become a part of the Life Technologies group.

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