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Sensient Technologies Reports Record Earnings for 1Q 2009


Earnings per share increase 4.7 percent

Sensient Technologies Corporation reported that diluted earnings per share for the three months ended March 31, 2009, reached 45 cents, a record level for the company’s first quarter. Diluted earnings per share for the prior year’s comparable period were 43 cents. Consolidated revenue for the first quarter of 2009 was $282.8 million compared to $307.4 million in the first quarter of 2008. On a local currency basis, first quarter revenue was up 1.4% in comparison to the prior year.

Cash provided by operating activities in the first quarter rose sharply to $17.5 million, compared to $9.7 million in the prior year’s comparable period. Total debt at March 31, 2009, was $468.5 million, a reduction of $11.4 million since the beginning of the year and $59.5 million in the last twelve months.

“We have delivered our 13th consecutive quarter of increased earnings, despite a challenging economic environment,” said Kenneth P. Manning, chairman and CEO of Sensient Technologies. “Our Flavors & Fragrances business delivered solid local currency growth this quarter across all major markets.”