Sigma-Aldrich Q2 2009 Earnings Call Transcript

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2009-07-23 20:09:18.0

Tags: Account, Pharmaceutical Company, Call Transcript, Earnings, Baird, Seeking Alpha, Singapore Airlines

Question-and-Answer Session

Operator

Thank you. The question-and-answer session will be conduct electronically. (Operator Instructions). We will take our first question from Quintin Lai at Baird.

Quintin Lai - R.W. Baird

Hi, good morning and good evening, Rakesh.

Rakesh Sachdev

Good evening.

Quintin Lai - R.W. Baird

Jai, could you kind a break out a little bit more in terms of some of our market, your end market demand with respect to academic and big pharma and some of your industrial accounts?

Jai Nagarkatti

Yeah Quintin, good morning. See, as we have said, I think our markets in the research business are pretty well evenly split at third in the academic account, third in the form of both large and small, and then the other third in the industrial accounts. That's basically the split.

Now if you, if your question is how is the performance of all of these three groups within the second quarter...

Quintin Lai - R.W. Baird

Yeah.

Jai Nagarkatti

I would say the academic accounts continued to be doing just fine, even though there is some slowness because of the Easter holiday, we didn't see much change.

Pharma continues to struggle, and we did see a little bit of a slowdown in the industrial accounts.

Quintin Lai - R.W. Baird

Okay. And then, earlier today, one of your competitors talked about the pacing through the quarter. April was down and kind of -- but then picked up through May and June. What was your experience as the quarter went through. And then with respect to your daily sales, are you seeing a return to more normalcy, or do you see some days of still lots of volatility?

Jai Nagarkatti

I think this is a very interesting phenomenon that we have noticed this year particularly, Quintin. And as the months progress in the second quarter we saw increasingly robustness and strength in the demand with June for us being probably the strongest month this year.

So that makes us little bit more confident that perhaps, things are beginning to rebound. And as you pointed out, we do watch the order volume, even though its still not at last year's level. We are seeing promising improvement month-by-month.

Quintin Lai - R.W. Baird

Great. Thank you. I'll jump back into to the queue.

Operator

We'll take our next question from Mike Sison at Key Bank.

Mike Sison - Key Bank

Hey, good morning guys.

 

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