IFF Reports Earnings Decline, But Beats Estimates

International Flavors and Fragrances (IFF) reported income of $53 million, or 66 cts/share, for the third-quarter, down from $58 million, or 73 cts/share, during the same period last year. Excluding special items related to production rationalization and a management change, earning totaled 82 ct/share, beating the analyst consensus of 72 cts/share, according to Thomson Reuters (New York). Third-quarter sales totaled $613 million, down from $618 million in the same quarter last year. Small sales declines were recorded in both the flavors and fragrances divisions...

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