Sigma-Aldrich Q1 sales hit by currency fluctuations

Sigma-Aldrich reported sales for the first quarter of US$519m, a fall of 9% from the first quarter of 2008. Excluding a 10% currency impact, first-quarter sales would have been higher by $6m or 1%. Net income was $84m as it was in the same quarter in 2008. Without the impact of currency changes, net income would have risen by 19%.

Sigma-Aldrich's president and ceo Jai Nagarkatti said: "We are very pleased with our performance in the first quarter of 2009 and our ability to improve our profitability in a challenging market. We fully believe that the life science and high technology markets we serve will rebound and that we can take market share with the new activities we have added for 2009 through to 2011 to continue the differentiation that has been key to our success."

Organic sales for the company's research business grew by more than 3%, with individual business unit growth ranging from 2-7%, driven by Europe and Canada, Asia Pacific and Latin America (CAPLA).

For the full year the company expects organic sales to grow by a low single digit from product launches and global sales initiatives.

The company added a new product group or service at a rate of one a week, including additional capability to produce animal-free media and the expansion of the Ascentis Express line of HPLC Columns with a new technology which involves Fused-Core silica particles, enabling sharper separation while reducing solvent use.