Sigma-Aldrich Q2 2011 Sales Achieve New Quarterly High (Financial Report) - Biotech Financial Reports

Sigma-Aldrich Q2 2011 Sales Achieve New Quarterly High (Financial Report)

By Biotech Financial Reports

  • Release Date - Published: 2011-08-01
  • Book Genre: Industries & Professions
  • Author: Biotech Financial Reports
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Sigma-Aldrich Q2 2011 Sales Achieve New Quarterly High (Financial Report) Biotech Financial Reports read online review & book description:

Reported sales for the second quarter of 2011 of $637 million increased 15% from the second quarter of 2010. Excluding changes in foreign currency exchange rates and acquisitions that contributed 8% and 1%, respectively to sales growth, second quarter organic sales growth was 6%. Second quarter sales for the company's Research business grew organically by 4%, led by the Asia Pacific-Latin America region. Second quarter sales for the company's SAFC business achieved a new quarterly high, with an organic increase of 10% compared to 2010, led by double-digit growth in our Bioscience and Hitech products. The operating income margin in the second quarter of 2011, excluding restructuring charges was 25.4% of sales compared to 26.2% of sales in the second quarter of 2010. Excluding the impact of changes in foreign currency exchange rates and the higher incremental amortization associated with our recent acquisitions, the operating income margin in the second quarter would have been 26.3% of sales, a 10 basis point improvement over 2010. During the quarter we spent an additional $3 million, or 50 basis points as a percentage of sales, in strategic spending on growth initiatives. Restructuring costs of $2 million were recorded in 2011's second quarter related to the previously announced consolidation of certain manufacturing facilities in the U.S. and Europe. These restructuring actions reflect the company's efforts to improve operating efficiencies and lower our fixed cost structure as part of a longer term goal to improve operating margins.

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