MILWAUKEE (AP) ¿ Sensient Technologies Corp. on Friday lowered its 2009 earnings forecast due to "soft economic conditions."

The maker of flavors, fragrances and colors, which also reported a 5 percent decline in its third-quarter profit, cut its full-year outlook for earnings per share to $1.85 to $1.90. Earlier this year the company had predicted $1.90 to $1.95 per share.

Analysts polled by Thomson Reuters expect, on average, $1.97 per share.

In morning trading, shares of Sensient Technologies fell $2.24, or 7.7 percent, to $28.87.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

If you liked this article you might like

What's Behind the Surge in Energy Stocks

Hillary Clinton Says Prosecuting Individuals is Key to Wall Street Reform