Sensient Technologies Corp.’s fourth-quarter profit and revenue fell, and by segment, its flavors and fragrances group revenue slipped.
The company’s fourth-quarter net income fell 9.6% to $25.4 million from $28.0 million a year earlier. (In the third quarter, it posted earnings of $21.3 million).
Quarterly revenue fell 2.1% to $342.8 million from $350.1 million a year earlier. Full-year net income fell 35% to $73.6 million as revenue slipped 1% to $1.45 billion.
Flavors and fragrances group quarterly revenue fell 3.4% to $201.9 million and operating income fell 11.3% to $25.4 million. For the full year, revenue for the unit slipped by also 3.4% to $847.0 million.
Based on current exchange rates, Sensient expects 2015 reported earnings per share from continuing operations to be within a range of $3.02 and $3.12, excluding restructuring costs.
To view the company’s full earnings release, click here.