International Flavors beats 4Q profit forecasts

NEW YORK (AP) _ International Flavors & Fragrances Inc. (IFF) on Wednesday reported fourth-quarter net income of $79.9 million.

The New York-based company said it had net income of $1 per share. Earnings, adjusted for one-time gains and costs, were $1.22 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.

The ingredients producer for food, cosmetics and consumer products industries posted revenue of $762.6 million in the period.

For the year, the company reported profit of $405 million, or $5.05 per share. Revenue was reported as $3.12 billion.

International Flavors shares have increased 1 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 5 percent. In the final minutes of trading on Wednesday, shares hit $119.16, a rise of 12 percent in the last 12 months.


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Keywords: International Flavors, Earnings Report