Flavors and colors help boost Sensients coffers

By Alex McNally

- Last updated on GMT

Related tags: United states dollar, Currency

Sensient Technologies Corporation is toasting an "outstanding" year
after revenue reached $300.9m - up more than 10 per cent from 2006.

Results out today show the company's fourth quarter earnings for 2007 were up from 33 cents a share to 39 cents. Revenue was up in the flavors and fragrances department and for colors. While the quarter's revenue was up by 10.3 percent, revenue for the 12 months was $1.2bn. This was an increase of 7.8 percent from the year before. Foreign currency translation had a favourable impact on revenue of 5 percent and 4 percent for the fourth quarter and end of year respectively. Cash provided by operating activities increased 33.7 percent in the fourth quarter to $24.5m, compared to $18.4m in the year before. For the year, cash provided by operating activities was $105.2m, an increase of 6 per cent in comparison to $99.2m in the prior year. Chairman and chief executive of Sensient Technologies Corporation, Kenneth Manning, said: "This quarter marks our eighth consecutive quarter of strong earnings growth. "We had an outstanding year. Each of our operating groups contributed to the excellent results, and we expect our businesses to perform well in 2008." Flavors and colors ​ The flavors and fragrances division reported record growth revenue. For the final quarter of the year, revenue increased 7.7 percent to $199.4m from 2006's $185m. A spokesperson said: "Group revenue for the quarter and twelve month period benefited from favorable foreign currency translation and from improved pricing and higher volumes. Operating income for both periods rose on the higher sales." ​The color section's fourth quarter revenue increased 14.7 percent to $95.6m, compared to $83.4m in the year before. Volume growth in cosmetic colors was also strong, the firm said. As a result of the year's earnings, Sensient has increased its outlook for 2008 - it says it hopes its diluted earnings per share to be within a range of $1.74 to $1.78. The previous range for guidance had been between $1.73 and $1.77.

Related topics: Suppliers, Flavors and colors

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