Sigma-Aldrich records benchmark performance in first quarter

Sigma-Aldrich has hailed its financial performance in the first quarter of 2010 after achieving a new benchmark in terms of quarterly earnings.

The science company’s reported sales for the three-month period came to $572 million (372.3 million pounds), an increase of 10.2 per cent year-on-year.

This performance helped the firm to achieve a reported diluted earnings per share rate of 81 cents, which represents the best quarterly result in its history.

Strong sales across key business areas such as biotechnology and research chemicals helped to drive this growth, while the expansion of its portfolio through the acquisition of Ace Animals and Highland Stable Isotopes assets also played a part.

Jai Nagarkatti, chairman, president and chief executive officer of Sigma-Aldrich, said: “We are very pleased with this performance as we begin 2010 with improved conditions in several of our markets.”

Earlier this month, Sigma-Aldrich’s SAFC division completed the expansion of one of its production sites, allowing it to increase its production capacity of high-potency active pharmaceutical ingredients.