NEW YORK (GenomeWeb News) – Sigma-Aldrich reported after the close of the market on Tuesday that its second-quarter revenues rose 14.4 percent, or 7.1 percent excluding the impact of currency translation.
Â
The St. Louis-based research products and chemicals company brought in revenues of $580.7 million for the three-month period ended June 30 compared to revenues of $507.5 million for the second quarter of 2007.
Â
The firm’s Research Essentials unit posted sales growth of 13.5 percent to $109.4 million; its Research Specialties unit had 16.8 percent revenue growth to $214.5 million; its Research Biotech unit posted sales growth of 17.6 percent to $86.4 million; and the SAFC unit had sales of $170.4 million, up 10.7 percent year over year.
Â
Sigma-Aldrich’s net income for the second quarter was $90.8 million, or $.70 per share, up 13.9 percent from last year’s Q2 profit of $79.7 million, or $.60 per share.
Â
The firm’s R&D expenses increased 10.3 percent to $16 million from $14.5 million, and its SG&A costs rose 10.9 percent to $144.5 million from $130.3 million.
Â
Sigma-Aldrich finished the quarter with $240.3 million in cash and cash equivalents.
Â
The company is targeting full-year 2008 organic sales growth of 7 percent and earnings per share of between $2.62 and $2.72.