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Sigma Shares Climb 10.8 Percent After Posting 27.4-Percent Jump in Q2 Revenue

NEW YORK, July 27 (GenomeWeb News) - Sigma-Aldrich yesterday reported increased revenues and earnings for the second quarter of 2005.

 

Revenues for the quarter jumped 27.4 percent to $444 million, from $348.6 million during the year-ago period. Revenues were boosted by a 94.5-percent increase in the company's chemicals business.

 

The firm noted that this particular increase was largely due to industrial cell culture product sales from JRH, which Sigma acquired earlier this year. The company's scientific research business reported a 10.4-percent increase in revenue year over year, while its biotechnology group reported revenue growth of 16.1 percent for the quarter.

 

In the biotechnology business, the firm said there was steady growth in sales to pharmaceutical customers worldwide and improved growth in sales to academic accounts in Europeand other healthcare-related customers.

 

Sigma-Aldrich's R&D spending was $13.1 million, up from $10.2 million in the second quarter last year.

 

The company reported a 4.9-percent increase in net income to $62.5 million, or $.91 per share, up from $59.6 million, or $.91 per share, during the year-ago period.

 

As of June 30, Sigma-Aldrich had cash and cash equivalents of $130 million.

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