April 20, 2012 / 12:57 PM / in 6 years

Sensient Technologies 1st-quarter beats market expectations

(Reuters) - Sensient Technologies Corp, a maker of flavors, aromas and colors, posted first-quarter results that beat estimates, helped by growth across its segments.

The company — which has two main segments, the Flavors & Fragrances Group and the Color Group — makes flavors, fragrances, inks and colors that are added to food, beverages, pharmaceuticals and cosmetics products.

Sensient Technologies said operating earnings growth for its Colors Group was driven by strength in its North American food color and inks businesses.

The company forecast 2012 earnings of $2.50 per share to $2.59 per share, up from its prior outlook of $2.48 per share to $2.58 per share. Analysts on average expect full-year earnings of $2.53 per share, according to Thomson Reuters I/B/E/S.

First-quarter profit rose to $28.9 million or 58 cents per share, from $26.4 million, or 53 cents per share, a year ago.

Revenue rose 4.6 percent to $365.7 million.

Analysts were expecting earnings of 57 cents per share on revenue of $356 million.

Sensient Technologies shares closed at $36.48 on Thursday on the New York Stock Exchange.

Reporting by Sunayan Bhattacharjee in Bangalore; Editing by Viraj Nair

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