"All our groups show revenue growth and higher operating profits," said Kenneth P. Manning, chairman, president and CEO of Sensient Technologies. "The Flavors & Fragrances Group performed particularly well, reporting record quarterly revenues and operating income. We expect the company's strong performance to continue in the second half and into next year."
The Flavors & Fragrances Group reported that its revenue increased 9.2% to $188.3 million for the 2006 second quarter. Operating income was up 19.0% to $27.1 million compared to the second quarter of 2005. Year-to-date revenue increased 8.4% to $358.8 million and operating income was up 15.4% to $50.0 million.
The Color Group's second quarter revenue increased 1.6% to $90.5 million for the quarter ended June 30, 2006, compared to $89.1 million in last year's second quarter. Operating income for the quarter equaled $15.8 million, up 7.8% from $14.7 million reported in the second quarter of 2005. For the past six months, revenue and operating income were $179.7 million and $31.7 million, respectively.
In addition, the board of directors declared a regular quarterly cash dividend on its common stock of $0.15 per share. The cash dividend will be paid on Sept. 1, 2006, to shareholders of record on August 9, 2006.