This excerpt taken from the SIAL 8-K filed Apr 23, 2009.
Cash Flow and Debt: Cash flow from operations for Q1 2009 was $114 million compared to $89 million for 2008. This improvement was largely due to a lower level of cash required for working capital. This cash flow enabled the Company to repay $74 million in short term debt, invest $28 million in property, plant and equipment additions and return $18 million to shareholders through a 12% increase in the 2009 quarterly dividend. The Companys debt to capital ratio was reduced to 31.3% at March 31, 2009 from 34.6% at December 31, 2008. The Company has not experienced any problem in placing its short-term debt in the current credit market environment.
This excerpt taken from the SIAL 10-Q filed Aug 9, 2005.
This excerpt taken from the SIAL 8-K filed Feb 16, 2005.
Non-GAAP Financial Measures: The Company regularly uses certain non-GAAP financial measures to supplement its GAAP disclosures. The Company does not, and does not suggest investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, GAAP financial information. These non-GAAP measures may not be consistent with the presentation by similar companies in the Companys industry.
With over 50% of sales denominated in currencies other than the U.S. dollar, management uses currency adjusted growth, and believes it is useful to investors, to judge the Companys controllable, local currency performance. While we are able to report currency impacts after the fact, we are unable to estimate changes that may occur during 2005 to applicable rates of exchange and are thus unable to provide GAAP growth rates for the year 2005 as required by Regulation G adopted by the Securities and Exchange Commission. Any significant changes in currency exchange rates would likely have a significant impact on our projected results and related growth rates due to the volume of our sales denominated in foreign currencies.
About Sigma-Aldrich: Sigma-Aldrich is a leading Life Science and High Technology company. Our biochemical and organic chemical products and kits are used in scientific and genomic research, biotechnology, pharmaceutical development, the diagnosis of disease and chemical manufacturing. We have customers in life science companies, university and government institutions, hospitals and in industry. Over one million scientists and technologists use our products. Sigma-Aldrich operates in 34 countries and has over 6,000 employees providing excellent service worldwide. We are committed to the success of our Customers, Employees and Shareholders through leadership in Life Science, High Technology and Service. For more information about Sigma-Aldrich, please visit our award-winning web site at www.sigma-aldrich.com
Cautionary Statement: This release contains forward-looking statements relating to future performance, goals, strategic actions and initiatives and similar intentions and beliefs, and other statements regarding the Companys expectations, goals, beliefs, intentions and the like regarding future sales, diluted earnings per share, inventory valuation, currency exchange rates, effective tax rate and other matters. These statements involve assumptions regarding the Company, its pending acquisitions of and the operations of JRH Biosciences and Proligo, investments and acquisitions and conditions in the markets the Company, JRH Biosciences and Proligo serve. Although the Company believes its expectations are based on reasonable assumptions, such statements are subject to risks and uncertainties, including, among others, certain economic, political and technological factors. Actual results could differ materially from those stated or implied in this news release, due to, but not limited to, such factors as (1) changes in pricing and the competitive environment, (2) fluctuations in foreign currency exchange rates, (3) the impact of acquisitions and success in integrating and obtaining projected results from the acquisitions, including JRH Biosciences and Proligo, (4) other changes in the business environment in which the Company, JRH Biosciences and Proligo operate, (5) changes in research funding, (6) uncertainties surrounding government healthcare reform, (7) government regulations applicable to the business, (8) the impact of fluctuations in interest rates, (9) the effectiveness of the Companys further implementation of its global software systems, (10) the ability to retain customers, suppliers and employees, (11) the success of research and development activities, (12) changes in worldwide tax rates or tax benefits from domestic and international operations, and (13) the outcome of the matters described in Note 11- Contingent Liabilities and Commitments-in the Companys Form 10-Q report for the period ended September 30, 2004. The Company does not undertake any obligation to update these forward-looking statements.