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Sigma-Aldrich (NASDAQ: SIAL) Reports Q1 2013 Sales And EPS Of $675 Million And $1.01, Respectively, Both Record Quarterly Highs. Reaffirms Full Year 2013 Diluted Adjusted EPS Outlook Of $4.10 To $4.20.
Date:4/25/2013

esident and CEO Rakesh Sachdev said, "We reported record quarterly sales and diluted EPS of $675 million and $1.01, respectively.  Our overall end markets remain steady with improving pharma trends offset by slower academic spending.  We remain on track to achieve our 2013 full-year organic sales growth and adjusted EPS guidance.

I am very pleased with the progress we are making in all three of our newly formed market-facing business units – Research, Applied and SAFC Commercial.  Our teams are energized and focused on providing the best science, service and solutions to address customers' needs in these markets. 

In Research, we continue to see signs that headwinds are abating from the large pharma site consolidations that occurred over the last several years.  We are gaining new business with our solutions-based initiatives such as The Science PlaceSM, a single source marketplace solution to simplify procurement processes and channels.  We also recently signed an agreement with a large biotech customer to manage their medicinal chemistry and biologics portfolio.

Dealers continue to generate steady organic sales growth, and our Dealers as Partners program has been successfully launched in Europe.  As we anticipated, sales to Academic/Government customers continue to be negatively impacted primarily due to U.S. sequestration-related issues and European funding uncertainties.  We expect the Academic/Government market to remain soft for the remainder of the year, which we have incorporated in our reaffirmed 2013 outlook.

Within our Applied business unit, our sales to Diagnostics and Testing labs grew strongly in the high single digits. With a rich product portfolio of analytical products, kits and solutions, our sales and marketing teams are developing new accounts and expanding into new geographies. 

Within SAFC Commercial, we experienced mid-single digit organic sales
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