ST. LOUIS (dpa-AFX) - Sigma-Aldrich Corp. (SIAL) reported that its second-quarter net income improved to $133 million or $1.11 per share, from $119 million or $0.98 per share in the same quarter last year.
Adjusted net income for the quarter was $133 million or $1.11 per share, compared to $127 million or $1.05 per share last year.
On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $1.10 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter grew 3 percent to $701 million from $681 million in the prior-year quarter. Twelve analysts had consensus revenue estimate of $705.93 million for the quarter.
Sales grew organically by 2 percent, and changes in foreign currency exchange rates added one percentage point to sales growth.
Looking ahead to fiscal 2014, the company raised the lower-end of adjusted earnings guidance to a new range of $4.32 to $4.40 per share from the prior range of $4.30 to $4.40 per share. Overall organic sales growth is expected to be in the low-single digit range.
Street is currently looking for full-year 2014 earnings of $4.37 per share on annual sales growth of 3.80 percent to $2.81 billion.
The company noted that second-half 2014 sales outlook remains unchanged, with organic sales growth of 2 percent.
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