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Sigma Aldrich Corp (SIAL) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2006

Sigma Aldrich Corp

CIK: 90185 Ticker: SIAL

Exhibit 99.1

LOGO

 

From:  

David R. Harvey, Chairman

Jai P. Nagarkatti, President and CEO

  

For questions, contact:

Kirk A. Richter, Treasurer

(314) 286-8004

FOR IMMEDIATE RELEASE

February 13, 2007

SIGMA-ALDRICH (NASDAQ: SIAL) Q4 2006 SALES INCREASE 13.2%.

DILUTED EPS UP 26.2% TO $.53. 2007 DILUTED EPS FORECAST SET AT $2.15 TO $2.25.

HIGHLIGHTS:

Impact of Stock Dividend:

 

 

All per share and share data in this release reflect the 100% stock dividend declared in November 2006 and effective in January 2007.

Sales, Income and EPS Results:

 

 

Q4 2006 sales grew 13.2% to a record $464.5 million, boosting full year 2006 sales by 7.9% to $1.8 billion. Q4 and full year 2006 organic sales growth reached 8.9% and 6.4%, respectively. Quarterly and year-to-date comparisons and a reconciliation of reported to adjusted sales growth can be found on page 10 of this release.

 

 

Operating and pretax income margins for Q4 2006 of 21.4% and 20.1%, respectively, and full year 2006 operating and pretax margins of 22.4% and 21.1%, respectively, all represented improved performance from comparable period 2005 results.

 

 

Reported and proforma increases in Q4 2006 diluted EPS were 26.2% and 17.8%, respectively, with reported and pro forma diluted EPS increases for full year 2006 of 9.0% and 12.5%, respectively. Q4 2006 diluted EPS of $.53 included a lower level of international taxes and a $.02 tax benefit from the retroactive reinstatement of the R&D tax credit in the United States, reducing the Company’s Q4 2006 effective tax rate from previous guidance. Full year diluted EPS of $2.05 exceeded October 2006 guidance due to improved sales performance in Q4 and the Q4 2006 tax benefits. Quarterly and year-to-date comparisons and a reconciliation of proforma to reported diluted EPS can be found on page 11 of this release.

Outlook

 

 

Management expects to meet the Company’s 7% long-term organic sales growth goal for 2007 and anticipates an additional contribution of approximately 2% from the recent acquisition of Epichem Group. If currency exchange rates remain at 12-31-06 levels, reported sales growth for 2007 could increase another 2%. Ongoing efforts to pursue other desirable acquisition candidates are expected to enhance this growth.

 

 

Based on those anticipated sales results and an effective tax rate of 30-31%, management estimates full year diluted EPS in the range of $2.15 to $2.25 for 2007, with the Epichem Group acquisition expected to be neutral to mildly accretive to 2007 earnings.

 

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The following information was filed by Sigma Aldrich Corp (SIAL) on Tuesday, February 13, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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