Sensient Technologies Corporation reported that diluted earnings per share for its first quarter ended March 31, 2007, increased 8.8 percent, to 37 cents from 34 cents last year. First quarter 2007 revenue increased 8.5 percent to $285.3 million as a result of strong sales in each of the company's operating segments. Foreign currency translation had a favorable impact of 3.1 percent on first quarter revenue.
"Our cosmetic and food and beverage product lines performed very well, resulting in record first quarter sales," said Kenneth P. Manning, chairman, president and CEO of Sensient Technologies Corporation. "We are off to a good start and I expect continued growth in 2007."
For the quarter, Color Group revenue grew 7.7 percent, to $96.0 million compared to $89.2 million for the comparable period in 2006. Strong demand within the company's cosmetic and food and beverage product lines contributed to record first quarter revenue. Operating income for the first quarter increased 8.8 percent, to $17.2 million on the higher sales volume.
Sensient now expects reported 2007 diluted earnings per share to be between $1.54 and $1.56.