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Sensient Technologies Reports Record Revenue, Earnings for 4Q, 2008

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Sensient Technologies reported that revenue, operating income and diluted earnings per share reached all-time record levels in 2008. Consolidated 2008 revenue rose 5.7 percent to $1.3 billion, compared to $1.2 billion in 2007. Favorable foreign currency translation added 1.6 percent to revenue in 2008.
    
Revenue for the fourth quarter ended Dec. 31, 2008 was $293.8 million, off 2.4 percent compared to $300.9 million in the fourth quarter of 2007.

“We have delivered an all-time record year for revenue and earnings. In fact, this quarter marks our twelfth consecutive quarter of strong earnings growth,” said Kenneth P. Manning, chairman and CEO of Sensient Technologies. “Each of our businesses contributed to the excellent results in 2008.”
    
The Color Group’s revenue for the 12 months ended Dec. 31, 2008, increased 6.2 percent, to a record level of $402.4 million, compared to 2007 revenues of $379.0 million. Color Group operating income in 2008 rose 7.5 percent to $71.6 million. Revenues for the Color Group in 2008 increased in all major markets. Operating profit was up on the higher revenue and improved pricing.
    
The Color Group’s fourth quarter revenue of $89.6 million was down 6.6 percent in comparison to last year’s fourth quarter revenue of $95.9 million. Operating income for the quarter of $16.1 million was off 3 percent from the fourth quarter of 2007.
    
The Board of Directors of Sensient Technologies also declared a regular quarterly cash dividend on its common stock of $0.19 per  share.

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