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Sigma-Aldrich Posts 21-Percent Sales Growth in Q3 as Profit Surges 16 Percent

NEW YORK, Oct. 25 (GenomeWeb News) - Sigma-Aldrich today reported revenue of $412.2 million for the third quarter, a 21-percent increase over third-quarter 2004 sales of $340.6 million.

 

The firm said that the industrial cell culture business of JRH Biosciences, which it acquired in February 2005, contributed 11.3 percent of the total increase for the quarter. Organic growth accounted for 9 percent of the increase, Sigma said, while currency benefits contributed .7 percent of the increase.

 

Sigma said net income grew 16 percent in the period to $63.9 million, or $.94 per share, from $56.3 million, or $.81 per share, reported in the third quarter last year.

 

The firm's R&D spending increased to $12.8 million from $10.6 million year over year.

 

As of Sep. 30, Sigma-Aldrich had 155.3 million in cash balances.

 

Sigma said it predicts sales growth of 17 percent to 20 percent for the full year 2005.

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