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2007 Diluted EPS Forecast Raised $.05 to $2.25 to $2.35.
ST. LOUIS, Oct. 23 /PRNewswire-FirstCall/ --
HIGHLIGHTS:
Sales, Income and EPS Results (all percentage comparisons are to
comparable periods in 2006):
-- Strongest Quarterly Sales Growth in 2007: Q3 2007 sales growth
improved on prior quarters' performance, with reported quarterly
growth of 14.0%. Sales of $503.2 million nearly matched the record
high sales achieved in Q2 2007. Organic sales growth of 7.0% equaled
the Company's growth goal, with a currency benefit of 4.3% and a 2.7%
contribution from the February 2007 Epichem acquisition enhancing
reported growth. Quarterly and year-to-date comparisons and a
reconciliation of reported to adjusted sales growth can be found on
page 10.
-- Margins Continued Strong As Pretax Income Gain Exceeds Sales Growth:
Q3 2007 operating and pretax income margins were 22.4% and 21.2%,
respectively, an improvement over Q3 2006 results. Pretax income in Q3
2007 increased 18.5%.
-- EPS Growth Affected By Previously Communicated Tax Rate Changes In Q3:
Q3 2007 diluted EPS increased 5.9% to $.54, reflecting previously
communicated tax differences that include both a $.03 per share tax
charge in Q3 2007 to revalue deferred tax assets and liabilities as a
result of tax rate changes in Europe and a tax audit benefit in Q3
2006 that had increased diluted EPS in that quarter by $.03. EPS
growth would have largely matched the pretax income gain absent these
tax differences. Favorable currency rates added $.06 to reported EPS
in Q3 2007. A reconciliation of currency adjusted proforma to reported
diluted EPS for the quarter and year-to-date periods can be found on
page 11.
Outlook:
-- Full year 2007 sa
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| SOURCE Sigma-Aldrich Copyright©2007 PR Newswire. All rights reserved |
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