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Sigma-Aldrich Q4 Financial Report Shows Quarterly High for Company
Posted: February 9, 2011
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"Our fourth quarter sales showed positive organic growth in both our research and SAFC businesses. Our traditional research products in analytical chemistry, biology and traditional chemistry together with continued strong growth from our materials science products all made a positive contribution to our research sales growth. Our SAFC business continued its strong quarterly sales performance, achieving the best quarterly sales in 2010, with strong growth in sales of materials and precursors for semi-conductor and LED applications as well as in industrial cell culture media for biological drugs. SAFC also enjoyed steady growth in the sale of bulk chemical products for development and manufacturing."
With regard to the outlook for 2011, Sachdev continued, "We again expect organic sales growth in the mid-single digit range as we continue to drive toward our longer term organic growth goal of 7–8%. Market conditions are not likely to change much, so our plans are to continue to execute on our strategic initiatives to drive sales of our analytical, biology, chemistry and materials science products, to continue the high single-digit organic growth in SAFC, and to enhance our e-commerce and Asia-Pacific/Latin American market sales. All of these efforts are intended to once again boost sales growth above the underlying market rate. “
Additional highlights from global sales growth initiatives include worldwide sales of research products through the company's website, as a percentage of total research sales were 49% for the fourth quarter of 2010 and 48% for the full year of 2010, up from 45% for the full year 2009. Also, sales in international markets (Asia-Pacific and Latin America) continued to show strength with reported and organic growth of 21% and 16%, respectively, for the fourth quarter of 2010, and in the company's focus markets of China, India and Brazil, sales collectively grew 27% and 23% on a reported and organic basis, respectively, for the fourth quarter of 2010. And SAFC's booked orders for future delivery at Dec. 31, 2010 improved over the Sept. 30, 2010 level and were 10% above the Dec. 31, 2009 level.