CARLSBAD, Calif.--(BUSINESS WIRE)--
Life Technologies Corporation (NASDAQ: LIFE) today announced a share
repurchase program for up to $500 million. This program authorizes
management, at its discretion, to repurchase shares on the open market
or in privately negotiated transactions, subject to market conditions
and other factors. "The company remains committed to our long-term
growth plan and our balanced capital deployment strategy," said Gregory
T. Lucier, Chairman and Chief Executive Officer of Life Technologies.
"Given our continued outlook for significant free cash flow generation,
we believe the Company is in strong financial position to meet both our
capital requirements to invest for future growth, while also returning
excess cash to shareholders."
About Life Technologies
Life Technologies Corporation (NASDAQ:LIFE
- News)
is a global biotechnology tools company dedicated to improving the human
condition. Our systems, consumables and services enable researchers to
accelerate scientific exploration, driving to discoveries and
developments that make life even better. Life Technologies customers do
their work across the biological spectrum, working to advance
personalized medicine, regenerative science, molecular diagnostics,
agricultural and environmental research, and 21st century forensics.
Life Technologies had sales of approximately $3.3 billion in 2009,
employs approximately 9,000 people, has a presence in more than 160
countries, and possesses a rapidly growing intellectual property estate
of approximately 3,900 patents and exclusive licenses. Life Technologies
was created by the combination of Invitrogen Corporation and Applied
Biosystems Inc.
Safe Harbor Statement
This press release includes forward-looking statements about our
anticipated results that involve risks and uncertainties. Some of the
information contained in this press release, including, but not limited
to, statements as to industry trends and our plans, objectives,
expectations and strategy for our business, contains forward-looking
statements that are subject to risks and uncertainties that could cause
actual results or events to differ materially from those expressed or
implied by such forward-looking statements. Any statements that are not
statements of historical fact are forward-looking statements. When used,
the words "believe," "plan," "intend," "anticipate," "target,"
"estimate," "expect" and the like, and/or future tense or conditional
constructions ("will," "may," "could," "should," etc.), or similar
expressions, identify certain of these forward-looking statements.
Important factors which could cause actual results to differ materially
from those in the forward-looking statements are detailed in filings
made by Life Technologies with the Securities and Exchange
Commission. Life Technologies undertakes no obligation to update or
revise any such forward-looking statements to reflect subsequent events
or circumstances.
Life Technologies Corporation
Eileen Pattinson, 760-603-7208
ir@lifetech.com
Source: Life Technologies Corporation
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