Life Technologies Corp. announced results for its first quarter ending March 31, 2010. Non-GAAP revenue for the first quarter was $887 million, an increase of 13% over the $785 million reported for the first quarter of 2009. Excluding the impact of currency and completed acquisitions and divestitures, organic revenue for the quarter grew 10% over the same period in the previous year.

Other financial highlights include the following:

• Non-GAAP gross margin in the first quarter was 68.3%, an improvement of 160 basis points over the prior year. Gross margin expansion was a result of manufacturing productivity, synergy realization such as savings in procurement, price gains across the portfolio, and currency.
• Non-GAAP operating margin was 29.5% in the first quarter, representing an increase of approximately 330 basis points over the same period in 2009. The increase in operating margin primarily resulted from gross margin expansion, synergies, and other operating expense reductions.
• First quarter non-GAAP tax rate was 30%.
• Diluted weighted shares outstanding were 190 million in the first quarter.
• Cash flow from operating activities for the first quarter was $71 million. First quarter capital expenditures were $30 million and resulting free cash flow was $41 million. The company ended the quarter with $642 million in cash and short-term investments, including $20 million held as restricted cash.