Sigma-Aldrich Corp.'s (SIAL) fourth-quarter profit edged up 1.1%
as revenue and margins both climbed slightly.
The chemical industry has seen sharply increased demand after
slumping in early 2009. But comparisons are now getting tougher as
many have posted improved results the past several periods.
Sigma-Aldrich supplies chemicals for high-tech scientific
research.
The reporting period is the first since Chairman and Chief
Executive Jai Nagarkatti died in November at age 63 of a heart
attack. He was replaced as president and CEO by Rakesh Sachdev,
according to the board's succession plan, while Barrett Toan
stepped in as chairman.
The company reported a profit of $94 million, or 76 cents a
share, compared with $93 million, or 75 cents a share, a year
earlier. Excluding restructuring costs and other items, earnings
were 83 cents. Revenue increased 1.6% to $582 million.
Analysts polled by Thomson Reuters were looking for earnings of
80 cents a share and revenue of $589 million.
Gross margin improved to 51.7% from 50.1%.
The company projected earnings for the year of $3.45 to $3.60 a
share on a mid-single digit increase in sales, in line with the
Street forecast of $3.59 and 6% revenue growth to $2.42
billion.
Shares edged up 0.7% to $65.89 premarket and are up 36% in the
past 12 months.
-By Lauren Pollock and Lee Roberts, Dow Jones Newswires;
212-416-2356; lauren.pollock@dowjones.com