ST. LOUIS (AP) -- Sigma-Aldrich Corp. said Thursday that its fourth-quarter net income grew more than 7 percent on business from recent acquisitions.
The seller of scientific supplies said sales grew 7 percent to $655 million in the quarter, with acquisitions completed in 2012 increasing sales by 6 percent.
The company reported net income of $116 million, or 96 cents per share, up from $108 million, or 89 cents per share, in the last quarter of 2011.
Analysts polled by FactSet expected earnings of 95 cents per share on revenue of $660 million.
The company expects 2013 adjusted earnings per share between $4.10 and $4.20. Last year the company reported adjusted earnings per share of $3.85.
CEO Rakesh Sachdev said equipment sales to the pharmaceutical industry helped offset lower sales to universities and research centers.
"While we are cautiously optimistic about our overall business, we believe it is prudent to be prepared for another year of soft academic spending," Sachdev said in a statement.
Shares of Sigma-Aldrich Corp. fell $1.40, or 1.8 percent, to $76.68 in trading.
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