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Sensient Q2 2009 Results: F&F Revenue Down
Posted: July 20, 2009
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Sensient Technologies Co. (Milwaukee, Wisconsin) has reported that second quarter 2009 revenues for the flavor and fragrance group dropped to $197.6 million, compared to $211.5 million in the same period 2008. Meanwhile, the company announced overall earnings of $25.82 million, up a tick from $25.46 million in the same period 2008. The company’s revenues for the period dropped 8.7%, from last year’s $332.79 million to $303.96 million.
For the first half of 2009 the company’s net earnings were $47.43 million, up from $46.14 million for the same period the previous year, while its revenue dipped 8.3% to $586.78 million.
Of the results, Kenneth Manning, chief executive of Sensient Technologies, said, “The strategy of reducing debt and investing in our business has allowed the company to maintain earnings despite a challenging economic environment.”