Research, selling and administrative expenses as a percentage of sales were down 10 basis points as a result of ongoing cost control and modest benefits from our restructuring. However, as we have previously indicated, adjusted operating profit and adjusted EPS declined versus the prior year period, but results are in line with our expectations.After Nicolas, Hernan and Kevin finish their respective sections, I will give you some perspectives on our outlook for the full year.
International Flavors & Fragrances' CEO Discusses Q1 2012 Results - Earnings Call Transcript
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