Sensient Earnings Rise

Sensient Technologies(SXT Quote), a manufacturer of colors, flavors and fragrances, said its first quarter earnings rose 21% from a year ago.

The Milwaukee, Wis.-based company earned $15.6 million, or 34 cents a share, in the quarter, compared with $12.8 million, or 27 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 32 cents a share in the most recent quarter.

First-quarter revenue rose 4.8% to $262.9 million.

The company expects to earn $1.35 a share to $1.40 a share this year. Analysts estimate $1.28 a share.

"Our cost reductions, product mix improvement and price increases are producing results," the company said.

Operating profit rose 23.7% to $30.8 million while operating profit margin improved 180 basis points to 11.7%.

Sales from the flavors and fragrances group increased 7.7% to $170.5 million, thanks to strong sales of flavors in North America. Color group revenue decreased marginally to $89.2 million as strong sales in cosmetic product line were offset by lower sales of technical colors and unfavorable currency movements.

Sensient rose 82 cents to $20.07.