IFF Adjusted Earnings Beat Estimates

International Flavors & Fragrances (IFF) fourth-quarter 2011 earnings fell 56% year-on-year, to $24.4 million, or 30 cts/share. The decline was due to a 44 cts/share charge related to a patent litigation settlement. Adjusted earnings, which exclude the charge, totaled 74 cts/share, up 7% from 69 cts/share in the year-ago period. Adjusted earnings beat analysts' consensus of 71 cts/share, as reported by Thomson Reuters (New York). The company’s net sales were up 2%, to $644 million.   The flavors business unit saw sales rise 8% year-on-year, to...

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