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.