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Sigma-Aldrich Q4 Financial Report Shows Quarterly High for Company
Posted: February 9, 2011
Sigma-Aldrich (St. Louis, Missouri) has reported its Q4 and full year 2010 financial results. Q4 2010 reported sales were $582 million, a new quarterly high for the company, and Q4 sales grew by 2% and 3% on a reported and currency adjusted basis, respectively. Additionally, full year 2010 sales increased 6% and 5% on a reported and currency adjusted basis, respectively.
With reported sales for the fourth quarter of 2010 at $582 million, it indicated a 2% increase from the fourth quarter of 2009. Excluding a 1% impact from unfavorable currency rates, fourth quarter organic sales growth was 3%. Fourth quarter sales for the company's research business grew 3% on a currency-adjusted basis, driven primarily by growth in the Asia-Pacific/Latin American markets. Fourth quarter sales for the company's SAFC business grew 4% on a currency-adjusted basis, as sales of its supply solutions, bioscience and high tech products again reflected stronger demand.
Commenting on the fourth quarter of 2010, president and CEO Rakesh Sachdev said, "The fourth quarter was marked with the tragic loss of our long-time colleague and CEO Jai Nagarkatti. He was a greatly respected leader to the entire Sigma-Aldrich organization and the scientific and business community. Jai left a great legacy and a solid team. We continue to keep his family in our thoughts and prayers.
"We are very pleased to have reported improved results in 2010's fourth quarter when compared to the same period last year, our best quarter in 2009. Our fourth quarter sales set a new quarterly record at $582 million. Earnings for the fourth quarter of 2010 continued the strong performance achieved in the earlier quarters of 2010, driving our diluted EPS for the year up by 11% on a reported basis and by 16% on an adjusted basis over the prior year level. The $3.12 of reported, diluted EPS for 2010 is another record, marking our 36th consecutive year of achieving increased EPS.