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Sigma-Aldrich Posts 6 Percent Q2 Growth

NEW YORK (GenomeWeb News) – Sigma-Aldrich today reported second-quarter revenue growth of 6 percent, with increases coming from all of its reporting units.

The St. Louis-based chemicals and research products firm reported total revenues of $554 million for the three-month period ended June 30, compared to $522 million for the second quarter of 2009. Excluding the impact of currency exchange, Sigma-Aldrich's sales were up 7 percent for the quarter.

Its Research Essentials unit had 1 percent growth to $107 million, while Research Specialties sales were up 7 percent to $207 million; Research Biotech grew 4 percent to $83 million; Research Chemicals was up 5 percent to $397 million; and sales for the SAFC business unit grew 10 percent to $157 million.

Sigma-Aldrich's profit rose to $97 million, or $.79 per share, from $84 million, or $.68 per share, for the second quarter of 2009. It beat analysts' consensus estimate of $.77 per share.

The firm's R&D spending for the quarter increased 13 percent to $17 million from $15 million, and its SG&A spending inched up nearly 2 percent to $132 million from $130 million.

Sigma-Aldrich finished the quarter with $453 million in cash and cash equivalents.

The firm said that it expects organic sales growth for full-year 2010 to be in the mid-single digit range. It maintained its forecast for EPS of between $3.05 and $3.20.

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