SIAL reports; CC at 11AM
>>NEW YORK (Reuters) - Specialty chemical company Sigma-Aldrich Corp. (NasdaqNM:SIAL - news) said Tuesday its second-quarter net income fell slightly but met Wall Street estimates as a slowing economy and a strong dollar dragged results.
The St. Louis-based company said net income dipped to $37 million, or 49 cents a share, from $37.8 million, or 45 cents a share in the year-ago period.
Wall Street expected earnings of 47 cents to 49 cents a share, with a mean estimate of 48 cents a share, according to tracking firm Thomson Financial/First Call.
Looking forward, the company said it will earn between $1.90 a share to $1.96 a share for the full year 2001, in line with wall Street estimates. The company said its forecast could rise if the dollar weakens.
Sales rose to $293.7 million in the quarter from $273.7 million in the year-ago period.
Sigma shares severely underperformed the broader stock market, falling abut 19.33 percent in the quarter compared with a rise of 5.52 percent in the S&P-500. The company closed Tuesday at $40.81 on the New York Stock Exchange (news - web sites), with a 52-week trading range of $51.49 to $25.375.<<
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That last paragraph is misleading. During the prior 4 quarters, when most tricklish companies were going to hell in a handbasket, SIAL easily outperformed them and the S&P. Only recently has it finally taken a little breather.
I think I'll manage to listen to the WAT & SIAL CC's and report tomorrow and Thursday. Then I'll get backlogged for a couple of days with the ABI (which I like at these levels), BIOa, and IVGN CCs. And nobody noticed the MDCC call; I guess nothing earth shattering, since the stock price has hardly budged, but I'll check. It's a non-climbing weekend, so with luck, I'll get 'em all covered before the weekend is out.
Of course, I'll take any help I can get.
Cheers, Tuck |
