The Flavors & Fragrances Group reported revenue of $214.7 million, a new high for the first quarter and an increase of 4.3% compared to $206.0 million reported in the first quarter of 2011. Operating income increased to $29.1 million in the quarter from $28.6 million in the prior year. In local currency, revenue increased 6.1% and operating income increased 3.0%.
The Corporate & Other segment, which includes the Company’s operations in Asia Pacific and China, and the flavor businesses in Central and South America, reported revenue of $37.2 million, an increase of 7.5% compared to the $34.6 million reported in the first quarter of 2011.
Sensient has increased its guidance for 2012 diluted earnings per share, which is now expected to be between $2.50 and $2.59. The Company’s previous guidance had been a range of $2.48 to $2.58 per share.
The Company will host a conference call to discuss its 2012 first quarter financial results at 10:00 a.m. CDT on Friday, April 20, 2012. To make a reservation for the conference call, contact InterCall Teleconferencing at (706) 645-6973. To participate in the conference call, contact InterCall Teleconferencing at (706) 758-1089 and refer to conference identification number 67473347.
A replay will be available beginning at 1:00 p.m. CDT on April 20, 2012, through midnight on April 27, 2012, by calling (404) 537-3406 and referring to conference identification number 67473347. A transcript of the call will also be posted on the Company’s web site at
after the call concludes.
This release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) that reflect management’s current assumptions and estimates of future economic circumstances, industry conditions, Company performance and financial results.
A variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results, including, but not limited to the factors noted in this press release and in the Management’s Discussion and Analysis in our most recently filed annual report on Form 10-K for the year ended December 31, 2011. The forward-looking statements in this press release speak only as to the date of this release.
Sensient Technologies Corporation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations upon which such statements are based.
ABOUT SENSIENT TECHNOLOGIES
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, inkjet and specialty inks and colors, and other specialty and fine chemicals. The Company’s customers include major international manufacturers representing most of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.