Sigma-Aldrich’s reported and organic sales for specialty fine chemicals (SAFC) increased by 10% and 11% respectively. Research product sales increased by 5% on both a reported and organic basis. Its diluted EPS increased by 16% to $0.79.
The operating income margin in the second quarter of 2010 of 25.6% of sales reflects a 170 basis point improvement from 2009’s second quarter due to continued benefits from higher volumes, currency benefits, favorable product mix and effective management of S,G&A costs.
Jai Nagarkatti, chairman, president and CEO of Sigma-Aldrich, said: “We are very pleased with this performance that drove our increase in diluted EPS for the first half of 2010 to 18%. Consistent with our first quarter 2010 experience, conditions were favorable in several of our markets.
“Our sales growth in SAFC and in our research focus initiative areas of analytical, biology and materials science all made positive contributions to our overall growth.
“We expect stronger growth in SAFC sales and have identified operating improvements that are expected to largely offset a headwind from the recent strengthening of the US dollar.
“And we’ve continued our efforts to improve our long-term growth and returns, seeking to boost our organic sales growth to 7% to 8% and drive operating profit margins to 26% to 27% over the next five years.”