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Sigma-Aldrich Q2 Sales Rise 3 Percent

NEW YORK (GenomeWeb) – NEW YORK (GenomeWeb) – Sigma-Aldrich today reported a 3 percent increase in sales in the second quarter as revenues rose to $701 million from $681 million in the year-ago period.

Analysts on average had expected the firm to report $705.9 million for the quarter, which ended on June 30.

Sales in Sigma-Aldrich's Research business ticked up 1 percent year over year to $357 million from $353 million a year ago.

The Applied business unit's reported sales rose 7 percent to $172 million from $160 million, with organic sales increasing 6 percent. Meantime, the Diagnostics and Testing segment sales saw double-digit organic growth, the company said.

The SAFC Commercial business unit increased 2 percent to $172 million from $168 million on a reported basis, and 1 percent organically.

Company President and CEO Rakesh Sachdev said in a statement that the Applied business unit led the growth in sales, despite a "lower-than-expected sales in SAFC Commercial due to the timing of several large contract manufacturing orders."

"Our overall sales outlook for the second half of the year remains on target with higher expected sales growth than the first half of the year, led by the Research and SAFC Commercial business units," Sachdev added.

The company posted a profit of $133 million, or $1.11 per share, compared to a profit of $127 million, or $.98 per share, in Q2 2013. Adjusted EPS was also $1.11 for the second quarter, slightly beating the consensus analyst estimate of $1.10.

Sigma-Aldrich's R&D expenses were flat year over year at $16 million, while the company's SG&A costs rose nearly 7 percent to $157 million from $147 million.

The firm finished the first quarter with $810 million in cash and cash equivalents.

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