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IFF beats estimates

7:58 AM MST | November 5, 2013 | Rebecca Coons

International Flavors & Fragrances (IFF) reports third-quarter net income of $99.0 million compared with $16.4 million in the year-ago quarter. Adjusted net income increased 13.0% year-on-year (YOY), to $1.22/share, beating a $1.18/share consensus of analysts’ estimates compiled by Thomson Reuters (New York). Sales increased 5% YOY, to $742.3 million. Fragrance sales increased 7% YOY, to $392.9 million, led by double-digit fragrance compounds demand growth in emerging markets. Segment profit increased 24% YOY, to $81.3 million, on "solid”...

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