Sensient Technologies reports drop in net income

Special to The Freeman

July 25, 2014

MILWAUKEE — Sensient Technologies Corp. said its net income dropped 10 percent in the second quarter.

The Milwaukee-based company said net income was $29.1 million, or 59 cents a share, compared to $32.3 million, or 65 cents, a year earlier. According to the company, it earned 81 cents a share in the second quarter, up 9.5 percent from 74 cents a year ago.

“I am very pleased with the strong results reported by the Company and each of the operating groups in the second quarter,” said Paul Manning, president and CEO of Sensient Technologies. “Each of the Groups reported local currency operating profit growth of over five percent and significant margin improvement. We continue to see progress in the Flavors & Fragrances Group and we are optimistic about future opportunities across all of our businesses.”

According to the maker of food flavorings and colors, revenue decline 1.1 percent to $374.7 million from $378.8 million a year ago.