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IFF sales and earnings up
1:06 PM MDT | August 5, 2014 | Lindsay Frost
International Flavors and Fragrances (IFF; New York) today reported second-quarter net income of $110.2 million, up 8% year-over-year (YOY). Reported earningsof $1.35/share in line with analyst consensus, according to Thomson Reuters (New York). Net sales of $788 million increased 4% YOY. “As expected, we delivered more moderate sales growth this quarter, reflecting a continued challenging environment in North America for our flavors business. Due to the leverage inherent in our operating model, we were still able to expand both our gross and operating...
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