NEW YORK (GenomeWeb) – Sigma-Aldrich today reported third quarter revenue growth of 2 percent year over year as it nears the completion of a deal to be acquired by Merck KGaA.
The St. Louis-based research tools and chemicals firm reported total revenues of $703 million for the three months ended Sept. 30, up from $690 million for the third quarter of 2014. On an organic basis, sales were up 9 percent year over year, the firm said.
Sales for Sigma-Aldrich's Research business unit were nearly flat at $346 million versus $347 million year over year, while sales for the Applied business unit were up 4 percent to $177 million compared to $170 million, and sales for the SAFC Commercial unit were also up 4 percent at $180 million versus $173 million.
Sigma-Aldrich posted Q3 net income of $114 million, or $.94 per share, compared to $108 million, or $.90 per share, for the third quarter of 2014.
Its R&D spending was up slightly to $18 million from $17 million, and its SG&A expenses climbed to $170 million from $152 million.
Sigma-Aldrich finished the quarter with cash and cash equivalents of $1.18 billion.
Sigma-Aldrich signed an agreement over a year ago to be acquired by Germany’s Merck KGaA for around $17 billion. It recently sold its Research Chemicals business to Honeywell in order to gain European Union approval for the Merck deal. According to Sigma-Aldrich CEO Rakesh Sachdev, the firm expects Merck to complete the acquisition this month.