Sensient Technologies Corporation reported that diluted earnings per share for the third quarter of 2007 rose 18.9 percent to 44 cents, compared to 37 cents in last year's third quarter. Diluted earnings per share for the nine months ended Sept. 30, 2007, were up 13.5 percent to $1.26, compared to $1.11 in last year's first nine months.
Revenue reached a record level of $294.3 million for the third quarter, up 4.8 percent from the comparable quarter in 2006. Revenue for the first nine months of this year was $883.9 million, an increase of 7 percent from the prior year's comparable period. The company expects that revenue growth for the remainder of 2007 will exceed 7 percent.
"Today we announced another quarter with excellent results," said Kenneth P. Manning, chairman and CEO of Sensient Technologies Corporation. "This quarter all of our groups reported higher revenue and profits. We are well-positioned for future growth."
The Color Group's revenue increased 4.1 percent to $90.7 million for the quarter ended Sept. 30, 200y. Operating income for the quarter was $15.9 million, up 14.6 percent from $13.9 million reported in the third quarter of 2006. Year-to-date revenue increased 5.8 percent to $282.2 million and operating income was up 10.5 percent to $50.3 million. Quarterly revenue for the Color Group reflects solid growth in food and beverage colors and favorable foreign currency translation. Higher volumes and improved product mix contributed to the increase in Color Group profits for the third quarter.