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Sensient Sees Weak Flavor Demand in Q3 Results
Posted: October 16, 2009
Delayed product launches and slack consumer demand hurt flavor results for Sensient Technologies (Milwaukee), which reported consolidated revenue of $303.2 million for the quarter ended September 30 (2008: $318.6 million). The company’s flavors and fragrances revenue for the period totaled $194.8 million, compared to 2008’s $204.6 million. Results were negatively impacted by foreign currency comparisons.
Of the results, chairman and CEO Kenneth Manning said, “We saw strength this quarter in a number of markets, but overall results continue to be impacted by soft economic conditions. Our strategy of reducing debt and investing in our business has allowed the company to deliver stable results during this challenging period. I remain optimistic about Sensient’s prospects in the future.”