NEW YORK (GenomeWeb News) – Sigma-Aldrich reported after the close of the market yesterday that its fourth-quarter revenues rose 14.6 percent and reached a quarterly high, while profits climbed 18.6 percent for the three-month period ended Dec. 31.
The diversified provider of chemicals, genomic research, and biotech products, reported fourth-quarter revenues of $532.1 million compared to revenues of $464.5 million in the fourth quarter of 2006. Organic revenue growth was 5.5 percent, while currency effects added 6.8 percent and acquisitions added 2.3 percent to growth.
Sales for the firm’s Research Specialties unit grew 15.5 percent year over year to $199.4 million; Research Essentials’ sales grew 11.8 percent to $98.4 million; Research Biotech sales increased 11.3 percent to $78.6 million; and sales from the firm’s SAFC unit rose 16.8 percent to $155.7 million.
Sigma-Aldrich posted a profit of $84.9 million, or $.64 per share, up from $71.6 million, or $.53 per share, in the year-ago period. The results beat the expectations of analysts surveyed by Thomson Financial, who predicted earnings of $.62 per share.
The firm’s R&D expenses climbed 18 percent to $15.7 million from $13.3 million, while SG&A costs rose 5 percent year over year to $131.6 million from $121.5 million.
For full-year 2007, Sigma-Aldrich brought in revenues of $2.04 billion, the first time the firm has eclipsed the $2 billion quarterly sales mark, and 13.3 percent higher than 2006 revenues of $1.8 billion.
Net income for the full year rose 12.4 percent to $311.1 million, or $2.34 per share, from $276.8 million, or $2.05 per share, in 2006.
Its R&D expenses for 2007 increased 12.1 percent to $59.3 million from $52.9 million, while SG&A costs climbed 11.3 percent to $517.1 million from $464.6 million.
Sigma-Aldrich finished the year with $237.6 million in cash and cash equivalents.
The firm expects to report 7 percent organic revenue growth for 2008.