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    Sigma-Aldrich 4Q net income up 15 percent

    Associated Press – Thu, Feb 9, 2012

    ST. LOUIS (AP) — Biochemical and gene research company Sigma-Aldrich Corp. said Thursday that its fourth-quarter profit rose 15 percent from the year on higher sales. The profit was slightly higher than analysts expected, though sales were lower and the company's 2012 outlook was toward the low end of predictions.

    Sigma-Aldrich shares fell 1 percent in midday trading.

    The company said its net income for the quarter that ended Dec. 31 was $108 million, or 89 cents per share, compared to $94 million, or 76 cents per share, in the same period a year before.

    Revenue during the quarter was $610 million, up from $582 million.

    The company said its adjusted net income, excluding one-time items like tax charges, was 91 cents per share.

    That was more than the adjusted profit of 89 cents per share that analysts expected, although revenue was lower than the $622.8 million analysts forecast on average, according to FactSet.

    Sigma-Aldrich makes testing kits for biotech researchers, as well as specialty chemicals that are used in biological research. CEO Rakesh Sachdev said that fourth-quarter sales were boosted by custom pharmaceutical sales, which grew in the low double digits.

    For 2012, the company forecast adjusted net income, excluding one-time costs like restructuring charges, of between $3.90 per share and $4.05 per share.

    The company said that during 2012, its newly acquired BioReliance division will boost sales by 5 percent from the year before. BioReliance provides quality control services for biochemical companies.

    The company's outlook was toward the low end of expectations, with analysts predicting adjusted net income of $4.02 per share.

    For all of 2011, the company reported net income of $457 million, or $3.72 per share, compared to $384 million, or $3.12 per share, the year before. Its 2011revenue was $2.51 billion, up 10 percent from $2.27 billion in 2010.

    The company also reported full-year adjusted net income, excluding one-time costs like restructuring charges, of $3.76 per share.

    The adjusted net income was slightly above the $3.74 per share that analysts expected, although revenue was slightly lower than expectations for $2.52 billion, according to FactSet.

    Shares fell $1.02 cents to $70.49 by midday.

     

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