International Flavors & Fragrances Inc. Q2 2010 Earnings Call Transcript

I can assure you this is the highest internal initiative at IFF and I am pleased with the efforts and the progress made thus far by the entire organization.

Returning to our second quarter results, I would like to note some key non-financial accomplishments that I believe will position us well in the future. First, in Flavors, I’m happy to report that we have been selected as a global core supplier for a multinational flavor customer making us one of only three suppliers on that coveted list.

This is great news for IFF and speaks volumes about its customers trust and our ability to deliver quality; innovative products that help them differentiate their brands in the marketplace.

Adding to our portfolio of health and wellness solutions is our newly signed licensing agreement with Redpoint Bio, developers of an all-natural sweetness enhancer derived from stevia that will be exclusively ours for five years. The addition of this product will enable us to offer our customers more natural solutions to reduce sugar products.

We also like to mention that the Fragrance team once again showed that IFF is a stock leader in looking to the future of Fragrance as they demonstrated in their well-received Headspace symposium presented earlier this year in concert with Museum of Modern Art and the Parsons School of Design.

For those of you who do not know the Headspace symposium gathers leading thinkers, designers, scientists, artists and established perfumers to challenge the conception, impact and potential applications of scent by exploring new territory for design. Opportunities such as these are great ways to think outside the box leading to the key innovations so necessary to our business.

While the rest of the IFF senior team will take you through the full details of our Q2 performance, I’ll provide a few high-level comments. It is clear that the strong momentum we experienced in the beginning of the year continued into the second quarter.

Read the rest of this transcript for free on seekingalpha.com

>To order reprints of this article, click here: Reprints