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IFF earnings beat estimates on strong sales

11:57 AM MDT | May 6, 2014 | Vincent Valk

International Flavors & Fragrances (IFF) today reported first-quarter net income up 18% year-on-year (YOY), to $106.7 million or $1.30/share, on sales up 6%, to $770 million. Adjusted earnings, excluding some tax charges, rose 11% YOY, to $1.32/share, ahead of analysts’ consensus estimate of $1.25/share, as reported by Thomson Reuters (New York). “Our 7% local currency sales growth reflects balanced growth between our flavors and fragrances businesses and includes a percentage point of growth from our Aromor acquisition, completed in January...

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