Sigma-Aldrich Corp Earnings Cheat Sheet: Profitable Quarter Accelerates Growth
S&P 500 (NYSE:SPY) component Sigma-Aldrich Corporation (NASDAQ:SIAL) reported its results for the second quarter. Sigma-Aldrich Corporation is a life science and high technology company that develops, manufactures, purchases and distributes a range of high quality chemicals, biochemicals and equipment.
Sigma-Aldrich Earnings Cheat Sheet for the Second Quarter
Results: Net income for the chemicals company rose to $113 million (91 cents per share) vs. $97 million (79 cents per share) in the same quarter a year earlier. This marks a rise of 16.5% from the year earlier quarter.
Revenue: Rose 15% to $637 million from the year earlier quarter.
Actual vs. Wall St. Expectations: SIAL‘s adjusted net income of 93 cents per share beat the mean analyst estimate of 92 cents per share. It beat the average revenue estimate of $620.6 million.
Quoting Management: President and CEO Rakesh Sachdev said: “Our reported sales of $637 million set a new quarterly high. Adjusted diluted EPS of $0.93 for the second quarter of 2011 was consistent with our expectation. We have delivered solid performance with organic sales growth in our expected mid single digit range and a 15% increase in adjusted diluted EPS for the first half of the year.”
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 19% and in the fourth quarter of the last fiscal year, the figure rose 1.5%.
Gross margin shrank 1.1 percentage points to 52%. The contraction appeared to be driven by increased costs, which rose 17.7% from the year earlier quarter while revenue rose 15%.
Revenue has risen the past four quarters. Revenue increased 10.5% to $632 million in the first quarter. The figure rose 1.7% in the fourth quarter of the last fiscal year from the year earlier and climbed 5.5% in the third quarter of the last fiscal year from the year-ago quarter.
The company has now beat estimates for the past three quarters. In the first quarter, it topped the mark by 5 cents, and in the fourth quarter of the last fiscal year, it was ahead by 3 cents.
Competitors to Watch: Techne Corporation (NASDAQ:TECH), Life Technologies Corp. (NASDAQ:LIFE), Qiagen NV (NASDAQ:QGEN), Thermo Fisher Scientific Inc. (NYSE:TMO), Affymetrix, Inc. (NASDAQ:AFFX), Hawkins, Inc. (NASDAQ:HWKN), Enzo Biochem, Inc. (NYSE:ENZ), Aceto Corporation (NASDAQ:ACET), Strategic Diagnostics Inc. (NASDAQ:SDIX), and PerkinElmer, Inc. (NYSE:PKI).
(Source: Xignite Financials)