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Sigma-Aldrich Posts 15 Percent Q2 Sales Growth

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Sigma-Aldrich today reported that its second-quarter revenues increased 15 percent led by its fine chemicals business.

The St. Louis-based chemicals and research products firm generated total revenues of $637 million for the three months ended June 30, compared to $554 million for the second quarter of 2010. Excluding an 8 percent contribution from currency exchange and a 1 percent benefit from acquisitions, Sigma-Aldrich's organic revenues were up 6 percent. The firm beat analysts' consensus estimate of $621.2 million.

Sigma-Aldrich's Research Essentials business grew 16 percent year over year to $124 million; its Research Specialties business increased 14 percent to $236 million; and its Research Biotech business jumped 13 percent to $94 million. Sigma-Aldrich Fine Chemicals' sales increased 17 percent to $183 million.

The firm posted net income of $113 million, or $.91 per share, up from $97 million, or $.79 per share, for Q2 2010.

Its R&D spending increased 6 percent to $18 million from $17 million, and its SG&A spending was up 14 percent at $151 million from $132 million.

Sigma-Aldrich finished the quarter with $663 million in cash and cash equivalents.

The company said that it expects full-year 2011 organic revenues to increase in the mid-single digits. Currency translation is expected to add around 5 percent growth, while acquisitions are anticipated to add between 1 and 2 percent growth. The firm's outlook for EPS is unchanged at a range between $3.60 and $3.75.

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