Sensient Technologies Corporation reported record revenue, operating income and earnings per share in 2011.
Consolidated revenue was over $1.43 billion, an increase of 7.7% over 2010 revenue of $1.33 billion. Diluted earnings per share for the year increased by 11.1%, to $2.41, from $2.17 reported in 2010. Consolidated operating income reached $190.8 million in 2011. Excluding the net impact of items discussed below, consolidated operating income was $192.1 million, an increase of 10.0% from the 2010 result of $174.6 million.
Consolidated revenue for the fourth quarter of 2011 reached $340.4 million, a new fourth quarter high, compared to $339.3 million reported in the same quarter last year. Diluted earnings per share for the quarter increased 9.6% to 57 cents, also a fourth quarter record and up from the 52 cents reported in the comparable period of 2010.
“The company performed exceptionally well in 2011,” said Kenneth P. Manning, chairman, president and CEO of Sensient Technologies. “We achieved record revenue and earnings for the second consecutive year, made substantial investments in our operations, reduced debt and increased the dividend to shareholders. We continue to see opportunities for growth and I am optimistic about the company’s future.”
The Color Group reported revenue of $112.8 million in the fourth quarter compared to $113.3 million in the fourth quarter of 2010. Operating income in the quarter increased 10.6% to $20.3 million over the $18.4 million reported last year.
Annual revenue for the Color Group reached a record $491.9 million in 2011, an increase of 9.9% over the $447.5 million in 2010. Operating income grew to $90.2 million in 2011, also a record level and up 16.6% from the $77.4 million reported in 2010.
The Flavors & Fragrances Group reported fourth quarter revenue of $206.3 million compared to the $206.1 million in the same quarter last year. Operating income for the quarter was $32.2 million, a 9.3% increase over the $29.4 million reported in the comparable period of 2010.
Revenue for the Flavors & Fragrances Group increased 6.4% to a record $860.7 million in 2011, compared to $809.1 million reported in 2010. Operating income for the year was $130.8 million, also a record level and an increase of 7.3% over the $122.0 million reported last year.