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Sensient Reports Increased Profits, Drop in Sales

9:30 AM MDT | July 20, 2012 | Lindsay Frost

Sensient Technologies reported net income of $34.9 million (70 cts/share) for the quarter ended June 30, up 4.2% from the year ago quarter. Earnings include legal costs of 2 cts/share. Adjusted earnings, before income taxes, were $49.9 million, up 1.5%. Sales came in at $367.8 million, down 2.4% year-on-year. Foreign currency translation reduced revenue and income in the second quarter significantly, the company says. “Sensient delivered a solid performance in the second quarter,” says Kenneth Manning, chairman and CEO of Sensient. “We achieved...

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