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Despite JRH Acquisition, Sigma Posts Lackluster Organic Revenue Growth in Q1

NEW YORK, April 27 (GenomeWeb News) - Sigma-Aldrich today posted an 8.6-percent increase in first-quarter sales, which grew to $400 million from $368.1 million in the same quarter last year. However, 2.3 percent of that growth was organic.

Sigma attributed 3.2 percentage points of the gain to its recent acquisition of JRH Bioscience's industrial cell culture business. Additionally, 3.1 percent were the result of currency benefits.

The company spent $11.7 million on R&D in the first quarter, up from $10.7 million year over year.

Sigma said that its net income for the first quarter increased 19.7 percent to $74.6 million, or $1.08 per basic share, from $62.3 million, or $.90 per basic share, in the year-ago period.

As of March 31, Sigma had $164.1 million in cash and cash equivalents on hand, the company said.

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