This week, SAFC announced record Q1 earnings. As noted by Sigma Aldrich President and CEO, Rakesh Sachdev, in the Q1 earnings call the results were contributed to strategic initiatives and acquisitions. He noted that, “Aided by the acquisition of BioReliance, SAFC sales of $197 million achieved a new quarterly high.” The growth was also contributed to an ever evolving global market that SAFC has committed to moving and changing with. Sachdev continued, “In addition to pharma outsourcing, the emerging markets continue to benefit from a strategic emphasis that the countries in these markets place on Life Science research.”
Q1 serves as a lead into even greater expectations for SAFC’s continued organic growth throughout 2012 and beyond. Sachdev provided further detail about these expectations, “With 1% organic growth for SAFC in Q1, we continue to expect sales growth to achieve low- to mid-single-digit organic growth in the second quarter as it is impacted by the same tougher comps related to the pre-buy in the SAFC Bioscience business in 2011, a slightly weaker LED market and capacity constraints in Hitech, which will be progressively alleviated beginning in the second quarter as our new Taiwan plant comes online.”
For the full Q1 2012 earnings report, please click here.