In the first quarter of 2012, Sigma Aldrich Corporation has reported a 5% sales increase—for $665 million in sales—over the same quarter last year. The company produces biochemicals, organic chemicals and inorganic chemicals, including raw flavor and fragrance materials. Reported diluted earnings per share (EPS) were 96 cents, compared to 97 cents for the same period last year, but the diluted adjusted EPS was 99 cents, compared to 94 cents for the first quarter of 2011. Foreign currency exchange rates reduced otherwise reportable sales by 2%
CEO Rakesh Sachdev says that organic growth in the company's research division was stronger than expected, at 4%, and he expects growth to stay in mid-single digits for 2012. Fine chemicals (SAFC) saw a low single-digit increase in organic growth, due mostly to pre-buying. Nonetheless, SAFC had its strongest quarter ever with $197 million in sales. Sachdev expects organic growth to reach mid-single digits for much of 2012.