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Markets :: Specialty Chemicals :: Flavors and fragrances
IFF earnings slightly beat estimates on higher sales
2:10 PM MST | February 13, 2014 | Vincent Valk
International Flavors & Fragrances (IFF) today reported fourth-quarter net earnings down 9.7% year-on-year (YOY), to $61.5 million, or 75 cts/share, on revenues up 7%, to $725 million. Earnings were hit by a $9.1-million capital tax charge in Spain and some other special items. Excluding these items, adjusted net earnings were up 11% YOY, to $75.5 million, or 92 cts/share, slightly ahead of analysts' consensus estimate of 91 cts/share, as reported by Thomson Reuters (New York). “The emerging markets continue to be a primary driver of our top-line growth...
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