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Sigma-Aldrich (Nasdaq: SIAL) Raises 2008 Diluted EPS Forecast by $.05 to $2.57-$2.67. Reports Q1 2008 Diluted EPS Up 14.3%; Sales Gain of 14.9%.
Date:4/22/2008


ST. LOUIS, April 22 /PRNewswire-FirstCall/ --

HIGHLIGHTS:

2008 Results (all percentage comparisons are to comparable periods in 2007):

-- Q1 2008 Sales Set New Quarterly Record: Q1 2008 sales reached a new

quarterly high of $569.6 million, an increase of 14.9%, with all

four business units also achieving new quarterly sales records and

reporting double-digit growth for the quarter. Organic sales growth

of 6.5% was enhanced by a currency benefit of 7.6% and a 0.8%

contribution from a February 2007 acquisition. Quarterly

comparisons and a reconciliation of reported to adjusted sales

growth can be found on page 10.

-- Operating And Pretax Margins Remained Strong: Q1 2008 operating and

pretax income margins were 22.6% and 21.8%, respectively, largely

comparable to Q1 2007 levels.

-- Double-Digit EPS Growth Despite Higher Tax Rates: Q1 2008 diluted

EPS increased 14.3% to $.64, including $0.10 from favorable currency

rates. A previously communicated tax rate increase resulted in an

effective tax rate of 32.1% in Q1 2008 compared to 30.3% for Q1

2007. An explanation of the tax rate difference and a

reconciliation of currency adjusted proforma to reported diluted EPS

for the quarter can be found on pages 4 and 10, respectively.

-- Cash Flow From Operations Increased: Cash flow from operations for

Q1 2008 improved by 2.3% to $89.6 million. Working capital

increases largely offset other increases in cash from operations.

Outlook:

-- Sales for full year 2008 are expected to meet the Company's 7%

organic growth goal. Currency benefits could add another 6% to

growth, a three percentage point increase from prior expectations,

if currency exchange rat
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SOURCE Sigma-Aldrich
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