N@N

Life Technologies Announces $500 Million Share Repurchase Program

^{Published on 2011-01-11 06:21:05 - Market Wire}
 

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. aThe company remains committed to our long-term growth plan and our balanced capital deployment strategy,a said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies. aGiven 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.a

"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 abelieve,a aplan,a aintend,a aanticipate,a atarget,a aestimate,a aexpecta and the like, and/or future tense or conditional constructions (awill,a amay,a acould,a ashould,a 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 byLife 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.