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Sensient Technologies Corp reports 3.4% dip in group operating profit
19 October 2009
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Sensient Technologies Corp reported that its flavors and fragrances group reported revenue for the third quarter that ended on September 30, 2009 was $194.8 million, compared to third quarter 2008 revenue of $204.6 million.
Group operating profit of $30.7 million was down 3.4% in comparison to the prior year's operating income of $31.8 million.
Revenue for the first nine months of 2009 was $576.9 million and operating income was $94.9 million.
In the third quarter, unfavorable foreign currency comparisons reduced flavors and fragrances group revenue and operating income by approximately 4%.
On a local currency basis, quarterly revenue for the group was down 1% and local currency operating income was in line with the prior year's level.
Sales of flavors in the quarter were impacted by soft consumer demand and delayed new product introductions on the part of customers.
The color group reported third quarter revenue of $94.2 million in comparison to $102.7 million in last year's third quarter.
Operating income for the quarter was $14.6 million compared to prior year operating income of $17.7 million.
Revenue for the first nine months of 2009 was $275.0 million and operating income was $43.3 million.
Unfavorable foreign currency comparisons reduced third quarter color group revenue and operating income by approximately 6% and 5%, respectively.
As stated in local currency, the color group's third quarter revenue and operating income were down 2.7% and 12.6%, respectively.
Soft consumer demand and continued inventory de-stocking resulted in lower sales of the group's non-food colors in the quarter.
Sales of food and beverage colors, as stated in local currency, were up in selected markets, including Latin America and Europe, but were offset by lower sales in the US market.
Group operating profit of $30.7 million was down 3.4% in comparison to the prior year's operating income of $31.8 million.
Revenue for the first nine months of 2009 was $576.9 million and operating income was $94.9 million.
In the third quarter, unfavorable foreign currency comparisons reduced flavors and fragrances group revenue and operating income by approximately 4%.
On a local currency basis, quarterly revenue for the group was down 1% and local currency operating income was in line with the prior year's level.
Sales of flavors in the quarter were impacted by soft consumer demand and delayed new product introductions on the part of customers.
The color group reported third quarter revenue of $94.2 million in comparison to $102.7 million in last year's third quarter.
Operating income for the quarter was $14.6 million compared to prior year operating income of $17.7 million.
Revenue for the first nine months of 2009 was $275.0 million and operating income was $43.3 million.
Unfavorable foreign currency comparisons reduced third quarter color group revenue and operating income by approximately 6% and 5%, respectively.
As stated in local currency, the color group's third quarter revenue and operating income were down 2.7% and 12.6%, respectively.
Soft consumer demand and continued inventory de-stocking resulted in lower sales of the group's non-food colors in the quarter.
Sales of food and beverage colors, as stated in local currency, were up in selected markets, including Latin America and Europe, but were offset by lower sales in the US market.
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