NEW YORK, April 26 (GenomeWeb News) - Sigma-Aldrich yesterday reported that first-quarter sales rose 10.8 percent as R&D spending grew 8.3 percent and net income shrank 10 percent.
Total receipts for the three months ended March 31 increased to $443 million from $400 million year over year.
R&D spending in the period grew to $13 million from $11.7 million in the year-ago period.
Profits in the first quarter declined to $66.5 million, or $.98 per diluted share, from $74.6 million, or $1.07 per diluted share, year over year.
Sigma said it had around $118.3 million in cash and equivalents as of March 31.