Sigma-Aldrich posts 8% decline in Q2 net profit

23 July 2009 14:03  [Source: ICIS news]

LONDON (ICIS news)--Sigma-Aldrich posted an 8% drop in second-quarter net income to $83.6m (€58.5m), down from $90.8m in the same period last year, the US fine chemicals maker said on Thursday.

Sales dropped 10% to $522m, largely due to negative currency effects, with organic sales declining 1.7%.

"We are very pleased with our second-quarter sales and operating performance in this challenging economic climate,” said CEO Jai Nagarkatti.

“We've reaffirmed our sales and profit expectations for all of 2009, believing that we can repeat our first-half performance for the remainder of the year, even with a continuation of the challenging market conditions,” he added.

Sigma-Aldrich reaffirmed its forecast that full-year organic sales would grow in the single-digit range, but currency was expected to reduce otherwise reportable growth by 5%.

Diluted earnings per share were expected to be slightly above the $2.65 reported for 2008.

($1 = €0.70)

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By: Mark Watts
+44 20 8652 3214



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