Sigma-Aldrich (SIAL) Reports In-Line Q3 EPS

Sigma-Aldrich (NASDAQ: SIAL) reported Q3 EPS of $1.06, in-line with the analyst estimate of $1.06. Revenue for the quarter came in at $5.9 billion versus the consensus estimate of $689.82 million.

CEO's STATEMENT:

Commenting on performance in the third quarter of 2014, President and CEO Rakesh Sachdev said, "I am pleased to report that all business units and geographic regions contributed to growth with all three of our business units posting the best organic sales growth of the year. During the quarter, we saw broad-based growth in our Research business unit with the best sales growth in the U.S. Academic segment since 2011 and continued double-digit sales growth in China. We launched many new products during the quarter including reagents and kits for life science research in areas such as bioactive small molecules, metabolomics, drug delivery, specialty materials and chemical synthesis. We continued to see strong double-digit sales growth in the Diagnostics & Testing segment of our Applied business unit and in the Life Science Services segment of our SAFC Commercial business unit. We also had another good quarter of year-over-year adjusted operating margin increase while continuing to invest in key long-term growth initiatives. We are bringing new SAFC manufacturing capacity on line in Irvine, Scotland (dry powder media) and in Madison, Wisconsin (high potency active pharmaceutical ingredients) and remain on track with our antibody-drug conjugate capacity expansion in St. Louis planned for next year."

"Earlier this month, we announced the acquisition of Cell Marque Corporation based in Rocklin, California. Once completed, this acquisition will strengthen our portfolio of antibody and IHC-staining reagents and kits for in vitro diagnostic customers. We expect this acquisition will close by the end of 2014 and be neutral to mildly accretive to 2015 EPS."

Mr. Sachdev continued, "On September 22, Sigma-Aldrich and Merck KGaA announced that the two companies have signed a definitive agreement under which Merck KGaA will acquire all outstanding Sigma-Aldrich shares for $140 in cash per common share, or approximately $17.0 billion. We are excited to join forces with Merck KGaA, Darmstadt, Germany, a distinguished industry leader, who shares our commitment to customers, employees and shareholders. The transaction, which is subject to shareholder approval, receipt of certain antitrust and government approvals and other customary closing conditions, is expected to be completed by mid-2015."

For earnings history and earnings-related data on Sigma-Aldrich (SIAL) click here.

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