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Sigma Aldrich Corp (SIAL) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2007

Sigma Aldrich Corp

CIK: 90185 Ticker: SIAL

Exhibit 99.1

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From:   David R. Harvey, Chairman    For questions, contact:
  Jai P. Nagarkatti, President and CEO    Kirk A. Richter, Treasurer
     (314) 286-8004

FOR IMMEDIATE RELEASE

February 12, 2008

SIGMA-ALDRICH (NASDAQ: SIAL) ANNUAL SALES SURPASS $2 BILLION MARK.

Q4 2007 SALES INCREASE 14.6%. Q4 2007 DILUTED EPS UP 20.8% TO $.64.

2008 DILUTED EPS GUIDANCE UP 7.7% - 12.0% TO $2.52 - $2.62 PER SHARE.

HIGHLIGHTS:

2007 Results (all percentage comparisons are to comparable periods in 2006):

 

 

Q4 2007 Sales Set New Quarterly Record: At $532.1 million, Q4 2007 sales reached a new quarterly high, beating the Q2 2007 record of $507.5 million and driving full year 2007 sales to $2.039 billion. Overall Q4 sales increased 14.6%, the highest quarterly gain in 2007 with all four business units reporting double-digit growth. Organic sales growth of 5.5% was enhanced by a currency benefit of 6.8% and a 2.3% contribution from a February 2007 acquisition. Full year sales grew 13.4%, with organic sales growth of 6.5% and currency and the acquisition contributing 4.8% and 2.1%, respectively. Quarterly and year-to-date comparisons and a reconciliation of reported to adjusted sales growth can be found on page 10.

 

 

Operating And Pretax Margins Both Improved In 2007: Q4 2007 operating and pretax income margins of 22.2% and 21.3%, respectively, and full year 2007 operating and pretax income margins of 22.5% and 21.5%, respectively, all represented improvements over comparable period 2006 results.

 

 

Strong EPS Growth Despite Higher Tax Rates: Q4 2007 diluted EPS increased 20.8% to $.64, with full year 2007 diluted EPS up 14.1% to $2.34. Favorable currency rates added $.08 and $.25 to reported EPS for Q4 and full year 2007, respectively, but higher tax rates in Q4 and full year 2007 partially offset improved pretax margins. A discussion of tax rate differences and a reconciliation of currency adjusted proforma to reported diluted EPS for the quarter and year-to-date periods can be found on pages 4 and 11, respectively.

 

 

Significant Increase In Cash Flow From Operations: Cash flow from operations for 2007 increased by $88.7 million or 26.8%.

Outlook:

 

 

Sales for full year 2008 are expected to meet the Company’s 7% organic growth goal. A modest additional carryover benefit in Q1 2008 from the Epichem acquisition is expected. Currency benefits could add another 3% to growth if currency exchange rates remain at December 31, 2007 levels.

 

 

Based on these sales and currency expectations, a modest margin contribution from the Company’s supply chain initiative and a higher effective tax rate ranging from 30% to 32%, management estimates full year 2008 diluted EPS in the range of $2.52 to $2.62, an increase of 7.7% to 12.0% over 2007.

 

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The following information was filed by Sigma Aldrich Corp (SIAL) on Wednesday, February 13, 2008 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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