SlideShare uma empresa Scribd logo
1 de 12
Baixar para ler offline
FORM 8-K
SENSIENT TECHNOLOGIES CORP - SXT
Filed: October 16, 2009 (period: October 16, 2009)
Report of unscheduled material events or corporate changes.
Table of Contents
8-K - FORM 8-K

ITEM 2.02    RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS.

SIGNATURES
EXHIBIT INDEX
EX-99.1 (EX-99.1)
UNITED STATES
                              SECURITIES AND EXCHANGE COMMISSION
                                                 WASHINGTON, D.C. 20549

                                                         FORM 8-K
                                               CURRENT REPORT
                       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
                                                         October 16, 2009
                                           (Date of Report/Date of earliest event reported)


   SENSIENT TECHNOLOGIES CORPORATION
                                        (Exact name of registrant as specified in its charter)

             WISCONSIN                                       1-7626                                           39-0561070
      (State or other jurisdiction                   (Commission File Number)                               (IRS Employer
           of incorporation)                                                                              Identification No.)

                                                    777 East Wisconsin Avenue
                                                Milwaukee, Wisconsin 53202-5304
                                        (Address and zip code of principal executive offices)
                                                           (414) 271-6755
                                       (Registrant’s telephone number, including area code)
                                                                N/A
                                   (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
� Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
� Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
� Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
� Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On October 16, 2009, Sensient Technologies Corporation issued a press release disclosing its results of operations for its quarter and
nine months ended September 30, 2009 and its financial condition at that date. The press release is furnished as Exhibit 99.1 to this
Report on Form 8-K.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit 99.1: The following exhibit is furnished with this Report on Form 8-K: Sensient Technologies Corporation Earnings Press
              Release for the Quarter and Nine Months Ended September 30, 2009.
                                                                   2




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
SIGNATURES
   Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                                          SENSIENT TECHNOLOGIES CORPORATION
                                                          (Registrant)

                                                          By:    /s/ John L. Hammond
                                                                 Name: John L. Hammond
                                                                 Title: Senior Vice President, General Counsel
                                                                         and Secretary

                                                          Date: October 16, 2009
                                                                  3




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
EXHIBIT INDEX

Exhibit 99.1: The following exhibit is furnished with this Report on Form 8-K: Sensient Technologies Corporation Earnings Press
              Release for the Quarter and Nine Months Ended September 30, 2009.




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:    Dick Hobbs
            (414) 347-3836

                                               Sensient Technologies Corporation
                                   Reports Earnings for the Quarter Ended September 30, 2009
                                                     Quarterly Cash Flow Up 55%
                                          EPS Even With Prior Year on Local Currency Basis
   MILWAUKEE—October 16, 2009—Sensient Technologies Corporation (NYSE: SXT) reported that diluted earnings per share for
the three months ended September 30, 2009, equaled 47 cents. Diluted earnings per share for the prior year’s comparable period were
50 cents. Third quarter earnings, as stated in local currency, would be approximately 3 cents per share higher than reported earnings
and even with the prior year.
   Consolidated revenue for the third quarter of 2009 was $303.2 million compared to $318.6 million in the third quarter of 2008.
Foreign currency translation reduced third quarter revenues by 4.2%. On a local currency basis, consolidated quarterly revenue was
lower by approximately 1% in comparison to the prior year.
   Diluted earnings per share for the nine months ended September 30, 2009, were $1.45 compared to $1.46 cents in last year’s
comparable period. As stated in local currency, earnings per share for the 2009 year-to-date period would be approximately 14 cents
higher than reported earnings. Revenue for the first nine months of this year was $890.0 million, compared to $958.8 million in the
prior year’s first nine months. Foreign currency translation decreased revenues in the year-to-date period by 7.3%. As reported in local
currency, revenue for the first nine months of the year was in line with the prior year.
   Cash provided by operating activities in the third quarter rose sharply to $43.1 million, compared to $27.8 million in the prior
year’s comparable period. For the nine months ended

                                                               - MORE -




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
Sensient Technologies Corporation                                                                                              Page 2
Earnings Release – Third Quarter Ended September 30,
2009
October 16, 2008
September 30, 2009, cash provided by operating activities was $98.6 million, an increase of 48.7% compared to the prior year. Total
debt at September 30, 2009, was $444.5 million, a reduction of $35.4 million since the beginning of the year and $39.4 million in the
last twelve months.
   “We saw strength this quarter in a number of markets, but overall results continue to be impacted by soft economic conditions,”
said Kenneth P. Manning, Chairman and CEO of Sensient Technologies Corporation. “Our strategy of reducing debt and investing in
our business has allowed the Company to deliver stable results during this challenging period. I remain optimistic about Sensient’s
prospects in the future.”

                                                       BUSINESS REVIEW
    The Flavors & Fragrances Group reported revenue for the third quarter of 2009 of $194.8 million compared to third quarter 2008
revenue of $204.6 million. Group operating profit of $30.7 million was down 3.4% in comparison to the prior year’s operating income
of $31.8 million. Revenue for the first nine months of 2009 was $576.9 million and operating income was $94.9 million. In the third
quarter, unfavorable foreign currency comparisons reduced Flavors & Fragrances Group revenue and operating income by
approximately 4%. On a local currency basis, quarterly revenue for the Group was down 1% and local currency operating income was
in line with the prior year’s level. Sales of flavors in the quarter were impacted by soft consumer demand and delayed new product
introductions on the part of customers. Group operating margins in the quarter improved 20 basis points in comparison to the prior
year partly as a result of price increases that were implemented in prior quarters.
   The Color Group reported third quarter revenue of $94.2 million in comparison to $102.7 million in last year’s third quarter.
Operating income for the quarter was $14.6 million compared to prior year operating income of $17.7 million. Revenue for the first
nine months of 2009 was $275.0 million and operating income was $43.3 million. Unfavorable

                                                              - MORE -




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
Sensient Technologies Corporation                                                                                               Page 3
Earnings Release – Third Quarter Ended September 30,
2009
October 16, 2008
foreign currency comparisons reduced third quarter Color Group revenue and operating income by approximately 6% and 5%,
respectively. As stated in local currency, the Color Group’s third quarter revenue and operating income were down 2.7% and 12.6%,
respectively. Soft consumer demand and continued inventory de-stocking resulted in lower sales of the Group’s non-food colors in the
quarter. Sales of food and beverage colors, as stated in local currency, were up in selected markets, including Latin America and
Europe, but were offset by lower sales in the U.S. market.

                                                          2009 OUTLOOK
Sensient now expects 2009 diluted earnings per share to be within a range of $1.85 and $1.90.

                                                       CONFERENCE CALL
  The company will host a conference call to discuss its 2009 third quarter financial results at 10:00 a.m. CDT on Friday, October 16,
2009. To make a reservation for the conference call, please contact InterCall Teleconferencing at (706) 645-6973 and refer to the
Sensient Technologies Corporation conference call.
   A replay will be available beginning at 1:00 p.m. CDT on October 16, 2009, through midnight on October 23, 2009, by calling
(706) 645-9291 and referring to conference identification number 34671430. A transcript of the call will also be posted on the
company’s web site at www.sensient-tech.com after the call concludes.
   This release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995)
that reflect management’s current assumptions and estimates of future economic circumstances, industry conditions, company
performance and financial results. A variety of factors could cause the company’s actual results and experience to differ materially
from the anticipated results, including, but not limited to the factors noted in this press release and in the Management’s Discussion
and Analysis in our most recently filed annual report on Form 10-K for the year ended December 31, 2008, and quarterly report on
Form 10-Q for the quarter ended June 30, 2009. The forward-looking statements in this press release speak only as to the date of this
release. Sensient

                                                              - MORE -




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
Sensient Technologies Corporation                                                                                             Page 4
Earnings Release – Third Quarter Ended September 30,
2009
October 16, 2008
Technologies Corporation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such
statements to reflect any change in its expectations upon which such statements are based.

                                             ABOUT SENSIENT TECHNOLOGIES
   Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient
employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and
pharmaceutical systems, inkjet and specialty inks and colors, and other specialty chemicals. The company’s customers include major
international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
   www.sensient-tech.com

                                                             - MORE -




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
Sensient Technologies Corporation                                                                                                       Page 5
(In thousands, except percentages and per share amounts)

Consolidated Statements of Earnings

                                         Three Months Ended September 30,                             Nine Months Ended September 30,
                                 2009                  2008             % Change               2009                2008             % Change
Revenue                      $ 303,179              $ 318,601                   -4.8%      $ 889,962           $ 958,815                -7.2%

Cost of products sold            210,103                  222,705               -5.7%          615,666             665,555              -7.5%
Selling and administrative
  expenses                        54,104                   55,041               -1.7%          153,683             167,919              -8.5%

Operating income                  38,972                   40,855               -4.6%          120,613             125,341              -3.8%
Interest expense                   5,483                    7,977                               18,379              25,035

Earnings before income
   taxes                          33,489                   32,878                1.9%          102,234             100,306               1.9%
Income taxes                      10,660                    8,776                               31,979              30,067

Net earnings                 $    22,829            $      24,102               -5.3%      $    70,255         $    70,239               0.0%

Earnings per common
  share:
  Basic                      $          0.47        $        0.50               -6.0%      $      1.45         $      1.48              -2.0%
  Diluted                    $          0.47        $        0.50               -6.0%      $      1.45         $      1.46              -0.7%

Average common shares
  outstanding:
  Basic                           48,447                   47,792                1.4%           48,299              47,554               1.6%
  Diluted                         48,750                   48,320                0.9%           48,553              48,098               0.9%

Results by Segment

                                         Three Months Ended September 30,                             Nine Months Ended September 30,
                                 2009                  2008             % Change               2009                2008             % Change
Revenue
Flavors & Fragrances         $ 194,805             $ 204,551                    -4.8%   $ 576,908              $ 609,269                -5.3%
Color                           94,160               102,659                    -8.3%     274,974                312,771               -12.1%
Corporate & Other               23,291                21,566                     8.0%      63,179                 66,150                -4.5%
Intersegment elimination        (9,077)              (10,175)                  -10.8%     (25,099)               (29,375)              -14.6%

Consolidated                 $ 303,179             $ 318,601                    -4.8%   $ 889,962              $ 958,815                -7.2%

Operating Income
Flavors & Fragrances                           $30,678         $31,774             -3.4%          $ 94,884          $ 94,290             0.6%
Color                                           14,573          17,738            -17.8%            43,305            55,531           -22.0%
Corporate & Other                               (6,279)         (8,657)           -27.5%           (17,576)          (24,480)          -28.2%

Consolidated                                   $38,972         $40,855             -4.6%          $120,613          $125,341            -3.8%


                                                                    - MORE -




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
Sensient Technologies Corporation                                                                           Page 6
(In thousands, except per share amounts)
Consolidated Condensed Balance Sheets

September 30,                                                                   2009                   2008
Current assets                                                              $   655,125           $    669,515
Goodwill and intangibles (net)                                                  472,867                485,286
Property, plant and equipment (net)                                             420,542                416,839
Other assets                                                                     38,462                 42,607

   Total Assets                                                             $ 1,586,996           $ 1,614,247

Current liabilities                                                         $   197,034           $    224,724
Long-term debt                                                                  411,259                450,437
Accrued employee and retiree benefits                                            40,685                 45,275
Other liabilities                                                                29,659                 28,934
Shareholders’ equity                                                            908,359                864,877

   Total Liabilities and Shareholders’ Equity                               $ 1,586,996           $ 1,614,247

Consolidated Statements of Cash Flows

Nine Months Ended September 30,                                                      2009                 2008
Net cash provided by operating activities                                       $       98,583        $ 66,288

Cash flows from investing activities:
  Acquisition of property, plant and equipment                                       (30,933)             (34,384)
  Proceeds from sale of assets                                                             4                1,946
  Other investing activity                                                              (615)               1,293

Net cash used in investing activities                                                (31,544)             (31,145)

Cash flows from financing activities:
  Proceeds from additional borrowings                                                216,608               40,330
  Debt payments                                                                     (256,991)             (65,420)
  Dividends paid                                                                     (27,743)             (26,412)
  Proceeds from options exercised and other                                            8,452               15,959

Net cash used in financing activities                                                (59,674)             (35,543)

Effect of exchange rate changes on cash and cash equivalents                            (4,785)               (23)

Net increase (decrease) in cash and cash equivalents                                     2,580            (423)
Cash and cash equivalents at beginning of period                                         8,498          10,522
Cash and cash equivalents at end of period                                      $       11,078        $ 10,099

Supplemental Information

Nine Months Ended September 30,                                                         2009               2008
Depreciation and amortization                                                       $ 31,458          $ 33,828

Dividends per share                                                                 $     0.57        $      0.55



_______________________________________________
Created by Morningstar Document Research documentresearch.morningstar.com




Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009

Mais conteúdo relacionado

Semelhante a Q3 2009 Earning Report of Sensient Technologies

Q2 2009 Earning Report of Datalink Corp.
Q2 2009 Earning Report of Datalink Corp.Q2 2009 Earning Report of Datalink Corp.
Q2 2009 Earning Report of Datalink Corp.Manya Mohan
 
Q1 2009 Earning Report of Advanced Analogic Technologies, Inc.
Q1 2009 Earning Report of Advanced Analogic Technologies, Inc.Q1 2009 Earning Report of Advanced Analogic Technologies, Inc.
Q1 2009 Earning Report of Advanced Analogic Technologies, Inc.earningreport earningreport
 
Q2 2009 Earning Report of MGIC Investment Corporation
Q2 2009 Earning Report of MGIC Investment CorporationQ2 2009 Earning Report of MGIC Investment Corporation
Q2 2009 Earning Report of MGIC Investment Corporationearningreport earningreport
 
Q2 2009 Earning Report of Simmons First National Corporation
Q2 2009 Earning Report of Simmons First National CorporationQ2 2009 Earning Report of Simmons First National Corporation
Q2 2009 Earning Report of Simmons First National Corporationearningreport earningreport
 
Q1 2009 Earning Report of Bucyrus International, Inc.
Q1 2009 Earning Report of Bucyrus International, Inc.Q1 2009 Earning Report of Bucyrus International, Inc.
Q1 2009 Earning Report of Bucyrus International, Inc.earningreport earningreport
 
Q1 2009 Earning Report of Dime Community Bancshares, Inc.
Q1 2009 Earning Report of Dime Community Bancshares, Inc.Q1 2009 Earning Report of Dime Community Bancshares, Inc.
Q1 2009 Earning Report of Dime Community Bancshares, Inc.earningreport earningreport
 
Q2 2009 Earning Report of Acme United Corporation
Q2 2009 Earning Report of Acme United CorporationQ2 2009 Earning Report of Acme United Corporation
Q2 2009 Earning Report of Acme United Corporationearningreport earningreport
 

Semelhante a Q3 2009 Earning Report of Sensient Technologies (20)

Q3 2009 Earning Report of Actuant Corp.
Q3 2009 Earning Report of Actuant Corp.Q3 2009 Earning Report of Actuant Corp.
Q3 2009 Earning Report of Actuant Corp.
 
Q3 2009 Earning Report of Datalink Corp.
Q3 2009 Earning Report of Datalink Corp.Q3 2009 Earning Report of Datalink Corp.
Q3 2009 Earning Report of Datalink Corp.
 
Q3 2009 Earning Report of Omniture
Q3 2009 Earning Report of OmnitureQ3 2009 Earning Report of Omniture
Q3 2009 Earning Report of Omniture
 
Q2 2009 Earning Report of Datalink Corp.
Q2 2009 Earning Report of Datalink Corp.Q2 2009 Earning Report of Datalink Corp.
Q2 2009 Earning Report of Datalink Corp.
 
Q2 2009 Earning Report of Datalink Corp.
Q2 2009 Earning Report of Datalink Corp.Q2 2009 Earning Report of Datalink Corp.
Q2 2009 Earning Report of Datalink Corp.
 
Q3 2009 Earning Report of Genuine Parts Co.
Q3 2009 Earning Report of Genuine Parts Co.Q3 2009 Earning Report of Genuine Parts Co.
Q3 2009 Earning Report of Genuine Parts Co.
 
Q2 2009 Earning Report of Adtran Inc.
Q2 2009 Earning Report of Adtran Inc.Q2 2009 Earning Report of Adtran Inc.
Q2 2009 Earning Report of Adtran Inc.
 
Q1 2009 Earning Report of Advanced Analogic Technologies, Inc.
Q1 2009 Earning Report of Advanced Analogic Technologies, Inc.Q1 2009 Earning Report of Advanced Analogic Technologies, Inc.
Q1 2009 Earning Report of Advanced Analogic Technologies, Inc.
 
Q1 2009 Earning Report of ScanSource, Inc.
Q1 2009 Earning Report of ScanSource, Inc.Q1 2009 Earning Report of ScanSource, Inc.
Q1 2009 Earning Report of ScanSource, Inc.
 
Q2 2009 Earning Report of Polycom, Inc.
Q2 2009 Earning Report of Polycom, Inc.Q2 2009 Earning Report of Polycom, Inc.
Q2 2009 Earning Report of Polycom, Inc.
 
Q3 2009 Earning Report of Nike, Inc.
Q3 2009 Earning Report of Nike, Inc.Q3 2009 Earning Report of Nike, Inc.
Q3 2009 Earning Report of Nike, Inc.
 
Q2 2009 Earning Report of MGIC Investment Corporation
Q2 2009 Earning Report of MGIC Investment CorporationQ2 2009 Earning Report of MGIC Investment Corporation
Q2 2009 Earning Report of MGIC Investment Corporation
 
Q2 2009 Earning Report of Simmons First National Corporation
Q2 2009 Earning Report of Simmons First National CorporationQ2 2009 Earning Report of Simmons First National Corporation
Q2 2009 Earning Report of Simmons First National Corporation
 
Q1 2009 Earning Report of M & T Bank Corp
Q1 2009 Earning Report of M & T Bank CorpQ1 2009 Earning Report of M & T Bank Corp
Q1 2009 Earning Report of M & T Bank Corp
 
Q2 2009 Earning Report of Landstar Ranger, Inc.
Q2 2009 Earning Report of Landstar Ranger, Inc.Q2 2009 Earning Report of Landstar Ranger, Inc.
Q2 2009 Earning Report of Landstar Ranger, Inc.
 
Q1 2009 Earning Report of Informatica Corp.
Q1 2009 Earning Report of Informatica Corp.Q1 2009 Earning Report of Informatica Corp.
Q1 2009 Earning Report of Informatica Corp.
 
Q1 2009 Earning Report of Intel Corp
 Q1 2009 Earning Report of Intel Corp Q1 2009 Earning Report of Intel Corp
Q1 2009 Earning Report of Intel Corp
 
Q1 2009 Earning Report of Bucyrus International, Inc.
Q1 2009 Earning Report of Bucyrus International, Inc.Q1 2009 Earning Report of Bucyrus International, Inc.
Q1 2009 Earning Report of Bucyrus International, Inc.
 
Q1 2009 Earning Report of Dime Community Bancshares, Inc.
Q1 2009 Earning Report of Dime Community Bancshares, Inc.Q1 2009 Earning Report of Dime Community Bancshares, Inc.
Q1 2009 Earning Report of Dime Community Bancshares, Inc.
 
Q2 2009 Earning Report of Acme United Corporation
Q2 2009 Earning Report of Acme United CorporationQ2 2009 Earning Report of Acme United Corporation
Q2 2009 Earning Report of Acme United Corporation
 

Mais de earningreport earningreport

Q3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific CorporationQ3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific Corporationearningreport earningreport
 
Q3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific CorporationQ3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific Corporationearningreport earningreport
 
Q3 2009 Earning Report of Atheros Communications, Inc.
Q3 2009 Earning Report of Atheros Communications, Inc.Q3 2009 Earning Report of Atheros Communications, Inc.
Q3 2009 Earning Report of Atheros Communications, Inc.earningreport earningreport
 
Q3 2009 Earning Report of Hancock Holding Company
Q3 2009 Earning Report of Hancock Holding CompanyQ3 2009 Earning Report of Hancock Holding Company
Q3 2009 Earning Report of Hancock Holding Companyearningreport earningreport
 
Q3 2009 Earning Report of Infosys Technologies Ltd.
Q3 2009 Earning Report of Infosys Technologies Ltd.Q3 2009 Earning Report of Infosys Technologies Ltd.
Q3 2009 Earning Report of Infosys Technologies Ltd.earningreport earningreport
 
Q3 2009 Earning Report of Marriott International
Q3 2009 Earning Report of Marriott InternationalQ3 2009 Earning Report of Marriott International
Q3 2009 Earning Report of Marriott Internationalearningreport earningreport
 
Q3 2009 Earning Report of Worthington Industries, Inc.
Q3 2009 Earning Report of Worthington Industries, Inc.Q3 2009 Earning Report of Worthington Industries, Inc.
Q3 2009 Earning Report of Worthington Industries, Inc.earningreport earningreport
 

Mais de earningreport earningreport (20)

Q3 2009 Earning Report of Banco Santander S.A.
Q3 2009 Earning Report of Banco Santander S.A.Q3 2009 Earning Report of Banco Santander S.A.
Q3 2009 Earning Report of Banco Santander S.A.
 
Q3 Earning report of Daimler AG
Q3 Earning report of Daimler AGQ3 Earning report of Daimler AG
Q3 Earning report of Daimler AG
 
Q3 Earning Report of BB&T Corporation
Q3 Earning Report of BB&T CorporationQ3 Earning Report of BB&T Corporation
Q3 Earning Report of BB&T Corporation
 
Q3 Earning Report of BB&T Corporation
Q3 Earning Report of BB&T CorporationQ3 Earning Report of BB&T Corporation
Q3 Earning Report of BB&T Corporation
 
Q3 2009 Earning Report of Brown & Brown
Q3 2009 Earning Report of Brown & BrownQ3 2009 Earning Report of Brown & Brown
Q3 2009 Earning Report of Brown & Brown
 
Q3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific CorporationQ3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific Corporation
 
Q3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific CorporationQ3 2009 Earning Report of Boston Scientific Corporation
Q3 2009 Earning Report of Boston Scientific Corporation
 
Q3 2009 Earning Report of Atheros Communications, Inc.
Q3 2009 Earning Report of Atheros Communications, Inc.Q3 2009 Earning Report of Atheros Communications, Inc.
Q3 2009 Earning Report of Atheros Communications, Inc.
 
Q3 2009 Earning Report of Apple Inc.
Q3 2009 Earning Report of Apple Inc.Q3 2009 Earning Report of Apple Inc.
Q3 2009 Earning Report of Apple Inc.
 
Q3 2009 Earning Report of Hancock Holding Company
Q3 2009 Earning Report of Hancock Holding CompanyQ3 2009 Earning Report of Hancock Holding Company
Q3 2009 Earning Report of Hancock Holding Company
 
Q3 2009 Earning Report of Walgreen Co.
Q3 2009 Earning Report of Walgreen Co.Q3 2009 Earning Report of Walgreen Co.
Q3 2009 Earning Report of Walgreen Co.
 
Q3 2009 Earning Report of Infosys Technologies Ltd.
Q3 2009 Earning Report of Infosys Technologies Ltd.Q3 2009 Earning Report of Infosys Technologies Ltd.
Q3 2009 Earning Report of Infosys Technologies Ltd.
 
Q3 2009 Earning Report of Marriott International
Q3 2009 Earning Report of Marriott InternationalQ3 2009 Earning Report of Marriott International
Q3 2009 Earning Report of Marriott International
 
Q3 2009 Earning Report of PepsiCo.
Q3 2009 Earning Report of PepsiCo.Q3 2009 Earning Report of PepsiCo.
Q3 2009 Earning Report of PepsiCo.
 
Q3 2009 Earning Report of Alcoa, Inc.
Q3 2009 Earning Report of Alcoa, Inc.Q3 2009 Earning Report of Alcoa, Inc.
Q3 2009 Earning Report of Alcoa, Inc.
 
Q3 2009 Earning Report of Pepsi Bottling Group
Q3 2009 Earning Report of Pepsi Bottling GroupQ3 2009 Earning Report of Pepsi Bottling Group
Q3 2009 Earning Report of Pepsi Bottling Group
 
Q3 2009 Earning Report of Jean Coutu Group
Q3 2009 Earning Report of Jean Coutu GroupQ3 2009 Earning Report of Jean Coutu Group
Q3 2009 Earning Report of Jean Coutu Group
 
Q3 2009 Earning Report of Minerva plc
Q3 2009 Earning Report of Minerva plcQ3 2009 Earning Report of Minerva plc
Q3 2009 Earning Report of Minerva plc
 
Q3 2009 Earning Report of Worthington Industries, Inc.
Q3 2009 Earning Report of Worthington Industries, Inc.Q3 2009 Earning Report of Worthington Industries, Inc.
Q3 2009 Earning Report of Worthington Industries, Inc.
 
Q3 2009 Earning Report of Walgreen
Q3 2009 Earning Report of WalgreenQ3 2009 Earning Report of Walgreen
Q3 2009 Earning Report of Walgreen
 

Último

9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCRSapana Sha
 
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 60009654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000Sapana Sha
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfProbe Gold
 
Best investment platform in india - falcon invoice discounting
Best investment platform in india - falcon invoice discountingBest investment platform in india - falcon invoice discounting
Best investment platform in india - falcon invoice discountingFalcon Invoice Discounting
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024CollectiveMining1
 
slideshare_2404_presentation materials_en.pdf
slideshare_2404_presentation materials_en.pdfslideshare_2404_presentation materials_en.pdf
slideshare_2404_presentation materials_en.pdfsansanir
 
WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024Hector Del Castillo, CPM, CPMM
 
Leveraging USDA Rural Development Grants for Community Growth and Sustainabil...
Leveraging USDA Rural Development Grants for Community Growth and Sustainabil...Leveraging USDA Rural Development Grants for Community Growth and Sustainabil...
Leveraging USDA Rural Development Grants for Community Growth and Sustainabil...USDAReapgrants.com
 
Q1 Quarterly Update - April 16, 2024.pdf
Q1 Quarterly Update - April 16, 2024.pdfQ1 Quarterly Update - April 16, 2024.pdf
Q1 Quarterly Update - April 16, 2024.pdfProbe Gold
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfProbe Gold
 
the 25 most beautiful words for a loving and lasting relationship.pdf
the 25 most beautiful words for a loving and lasting relationship.pdfthe 25 most beautiful words for a loving and lasting relationship.pdf
the 25 most beautiful words for a loving and lasting relationship.pdfFrancenel Paul
 

Último (15)

9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
9654467111 Low Rate Call Girls In Tughlakabad, Delhi NCR
 
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 60009654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
9654467111 Call Girls In Katwaria Sarai Short 1500 Night 6000
 
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Serviceyoung call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
young call girls in Hauz Khas,🔝 9953056974 🔝 escort Service
 
young call girls in Govindpuri 🔝 9953056974 🔝 Delhi escort Service
young call girls in Govindpuri 🔝 9953056974 🔝 Delhi escort Serviceyoung call girls in Govindpuri 🔝 9953056974 🔝 Delhi escort Service
young call girls in Govindpuri 🔝 9953056974 🔝 Delhi escort Service
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdf
 
Best investment platform in india - falcon invoice discounting
Best investment platform in india - falcon invoice discountingBest investment platform in india - falcon invoice discounting
Best investment platform in india - falcon invoice discounting
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024
 
young Call girls in Dwarka sector 1🔝 9953056974 🔝 Delhi escort Service
young Call girls in Dwarka sector 1🔝 9953056974 🔝 Delhi escort Serviceyoung Call girls in Dwarka sector 1🔝 9953056974 🔝 Delhi escort Service
young Call girls in Dwarka sector 1🔝 9953056974 🔝 Delhi escort Service
 
slideshare_2404_presentation materials_en.pdf
slideshare_2404_presentation materials_en.pdfslideshare_2404_presentation materials_en.pdf
slideshare_2404_presentation materials_en.pdf
 
WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024WheelTug PLC Pitch Deck | Investor Insights | April 2024
WheelTug PLC Pitch Deck | Investor Insights | April 2024
 
Leveraging USDA Rural Development Grants for Community Growth and Sustainabil...
Leveraging USDA Rural Development Grants for Community Growth and Sustainabil...Leveraging USDA Rural Development Grants for Community Growth and Sustainabil...
Leveraging USDA Rural Development Grants for Community Growth and Sustainabil...
 
Q1 Quarterly Update - April 16, 2024.pdf
Q1 Quarterly Update - April 16, 2024.pdfQ1 Quarterly Update - April 16, 2024.pdf
Q1 Quarterly Update - April 16, 2024.pdf
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdf
 
the 25 most beautiful words for a loving and lasting relationship.pdf
the 25 most beautiful words for a loving and lasting relationship.pdfthe 25 most beautiful words for a loving and lasting relationship.pdf
the 25 most beautiful words for a loving and lasting relationship.pdf
 
Call Girls in South Ex⎝⎝9953056974⎝⎝ Escort Delhi NCR
Call Girls in South Ex⎝⎝9953056974⎝⎝ Escort Delhi NCRCall Girls in South Ex⎝⎝9953056974⎝⎝ Escort Delhi NCR
Call Girls in South Ex⎝⎝9953056974⎝⎝ Escort Delhi NCR
 

Q3 2009 Earning Report of Sensient Technologies

  • 1. FORM 8-K SENSIENT TECHNOLOGIES CORP - SXT Filed: October 16, 2009 (period: October 16, 2009) Report of unscheduled material events or corporate changes.
  • 2. Table of Contents 8-K - FORM 8-K ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. SIGNATURES EXHIBIT INDEX EX-99.1 (EX-99.1)
  • 3. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 October 16, 2009 (Date of Report/Date of earliest event reported) SENSIENT TECHNOLOGIES CORPORATION (Exact name of registrant as specified in its charter) WISCONSIN 1-7626 39-0561070 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 777 East Wisconsin Avenue Milwaukee, Wisconsin 53202-5304 (Address and zip code of principal executive offices) (414) 271-6755 (Registrant’s telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: � Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) � Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) � Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) � Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 4. ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On October 16, 2009, Sensient Technologies Corporation issued a press release disclosing its results of operations for its quarter and nine months ended September 30, 2009 and its financial condition at that date. The press release is furnished as Exhibit 99.1 to this Report on Form 8-K. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. Exhibit 99.1: The following exhibit is furnished with this Report on Form 8-K: Sensient Technologies Corporation Earnings Press Release for the Quarter and Nine Months Ended September 30, 2009. 2 Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 5. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SENSIENT TECHNOLOGIES CORPORATION (Registrant) By: /s/ John L. Hammond Name: John L. Hammond Title: Senior Vice President, General Counsel and Secretary Date: October 16, 2009 3 Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 6. EXHIBIT INDEX Exhibit 99.1: The following exhibit is furnished with this Report on Form 8-K: Sensient Technologies Corporation Earnings Press Release for the Quarter and Nine Months Ended September 30, 2009. Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 7. Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Dick Hobbs (414) 347-3836 Sensient Technologies Corporation Reports Earnings for the Quarter Ended September 30, 2009 Quarterly Cash Flow Up 55% EPS Even With Prior Year on Local Currency Basis MILWAUKEE—October 16, 2009—Sensient Technologies Corporation (NYSE: SXT) reported that diluted earnings per share for the three months ended September 30, 2009, equaled 47 cents. Diluted earnings per share for the prior year’s comparable period were 50 cents. Third quarter earnings, as stated in local currency, would be approximately 3 cents per share higher than reported earnings and even with the prior year. Consolidated revenue for the third quarter of 2009 was $303.2 million compared to $318.6 million in the third quarter of 2008. Foreign currency translation reduced third quarter revenues by 4.2%. On a local currency basis, consolidated quarterly revenue was lower by approximately 1% in comparison to the prior year. Diluted earnings per share for the nine months ended September 30, 2009, were $1.45 compared to $1.46 cents in last year’s comparable period. As stated in local currency, earnings per share for the 2009 year-to-date period would be approximately 14 cents higher than reported earnings. Revenue for the first nine months of this year was $890.0 million, compared to $958.8 million in the prior year’s first nine months. Foreign currency translation decreased revenues in the year-to-date period by 7.3%. As reported in local currency, revenue for the first nine months of the year was in line with the prior year. Cash provided by operating activities in the third quarter rose sharply to $43.1 million, compared to $27.8 million in the prior year’s comparable period. For the nine months ended - MORE - Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 8. Sensient Technologies Corporation Page 2 Earnings Release – Third Quarter Ended September 30, 2009 October 16, 2008 September 30, 2009, cash provided by operating activities was $98.6 million, an increase of 48.7% compared to the prior year. Total debt at September 30, 2009, was $444.5 million, a reduction of $35.4 million since the beginning of the year and $39.4 million in the last twelve months. “We saw strength this quarter in a number of markets, but overall results continue to be impacted by soft economic conditions,” said Kenneth P. Manning, Chairman and CEO of Sensient Technologies Corporation. “Our strategy of reducing debt and investing in our business has allowed the Company to deliver stable results during this challenging period. I remain optimistic about Sensient’s prospects in the future.” BUSINESS REVIEW The Flavors & Fragrances Group reported revenue for the third quarter of 2009 of $194.8 million compared to third quarter 2008 revenue of $204.6 million. Group operating profit of $30.7 million was down 3.4% in comparison to the prior year’s operating income of $31.8 million. Revenue for the first nine months of 2009 was $576.9 million and operating income was $94.9 million. In the third quarter, unfavorable foreign currency comparisons reduced Flavors & Fragrances Group revenue and operating income by approximately 4%. On a local currency basis, quarterly revenue for the Group was down 1% and local currency operating income was in line with the prior year’s level. Sales of flavors in the quarter were impacted by soft consumer demand and delayed new product introductions on the part of customers. Group operating margins in the quarter improved 20 basis points in comparison to the prior year partly as a result of price increases that were implemented in prior quarters. The Color Group reported third quarter revenue of $94.2 million in comparison to $102.7 million in last year’s third quarter. Operating income for the quarter was $14.6 million compared to prior year operating income of $17.7 million. Revenue for the first nine months of 2009 was $275.0 million and operating income was $43.3 million. Unfavorable - MORE - Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 9. Sensient Technologies Corporation Page 3 Earnings Release – Third Quarter Ended September 30, 2009 October 16, 2008 foreign currency comparisons reduced third quarter Color Group revenue and operating income by approximately 6% and 5%, respectively. As stated in local currency, the Color Group’s third quarter revenue and operating income were down 2.7% and 12.6%, respectively. Soft consumer demand and continued inventory de-stocking resulted in lower sales of the Group’s non-food colors in the quarter. Sales of food and beverage colors, as stated in local currency, were up in selected markets, including Latin America and Europe, but were offset by lower sales in the U.S. market. 2009 OUTLOOK Sensient now expects 2009 diluted earnings per share to be within a range of $1.85 and $1.90. CONFERENCE CALL The company will host a conference call to discuss its 2009 third quarter financial results at 10:00 a.m. CDT on Friday, October 16, 2009. To make a reservation for the conference call, please contact InterCall Teleconferencing at (706) 645-6973 and refer to the Sensient Technologies Corporation conference call. A replay will be available beginning at 1:00 p.m. CDT on October 16, 2009, through midnight on October 23, 2009, by calling (706) 645-9291 and referring to conference identification number 34671430. A transcript of the call will also be posted on the company’s web site at www.sensient-tech.com after the call concludes. This release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) that reflect management’s current assumptions and estimates of future economic circumstances, industry conditions, company performance and financial results. A variety of factors could cause the company’s actual results and experience to differ materially from the anticipated results, including, but not limited to the factors noted in this press release and in the Management’s Discussion and Analysis in our most recently filed annual report on Form 10-K for the year ended December 31, 2008, and quarterly report on Form 10-Q for the quarter ended June 30, 2009. The forward-looking statements in this press release speak only as to the date of this release. Sensient - MORE - Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 10. Sensient Technologies Corporation Page 4 Earnings Release – Third Quarter Ended September 30, 2009 October 16, 2008 Technologies Corporation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations upon which such statements are based. ABOUT SENSIENT TECHNOLOGIES Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, inkjet and specialty inks and colors, and other specialty chemicals. The company’s customers include major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin. www.sensient-tech.com - MORE - Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 11. Sensient Technologies Corporation Page 5 (In thousands, except percentages and per share amounts) Consolidated Statements of Earnings Three Months Ended September 30, Nine Months Ended September 30, 2009 2008 % Change 2009 2008 % Change Revenue $ 303,179 $ 318,601 -4.8% $ 889,962 $ 958,815 -7.2% Cost of products sold 210,103 222,705 -5.7% 615,666 665,555 -7.5% Selling and administrative expenses 54,104 55,041 -1.7% 153,683 167,919 -8.5% Operating income 38,972 40,855 -4.6% 120,613 125,341 -3.8% Interest expense 5,483 7,977 18,379 25,035 Earnings before income taxes 33,489 32,878 1.9% 102,234 100,306 1.9% Income taxes 10,660 8,776 31,979 30,067 Net earnings $ 22,829 $ 24,102 -5.3% $ 70,255 $ 70,239 0.0% Earnings per common share: Basic $ 0.47 $ 0.50 -6.0% $ 1.45 $ 1.48 -2.0% Diluted $ 0.47 $ 0.50 -6.0% $ 1.45 $ 1.46 -0.7% Average common shares outstanding: Basic 48,447 47,792 1.4% 48,299 47,554 1.6% Diluted 48,750 48,320 0.9% 48,553 48,098 0.9% Results by Segment Three Months Ended September 30, Nine Months Ended September 30, 2009 2008 % Change 2009 2008 % Change Revenue Flavors & Fragrances $ 194,805 $ 204,551 -4.8% $ 576,908 $ 609,269 -5.3% Color 94,160 102,659 -8.3% 274,974 312,771 -12.1% Corporate & Other 23,291 21,566 8.0% 63,179 66,150 -4.5% Intersegment elimination (9,077) (10,175) -10.8% (25,099) (29,375) -14.6% Consolidated $ 303,179 $ 318,601 -4.8% $ 889,962 $ 958,815 -7.2% Operating Income Flavors & Fragrances $30,678 $31,774 -3.4% $ 94,884 $ 94,290 0.6% Color 14,573 17,738 -17.8% 43,305 55,531 -22.0% Corporate & Other (6,279) (8,657) -27.5% (17,576) (24,480) -28.2% Consolidated $38,972 $40,855 -4.6% $120,613 $125,341 -3.8% - MORE - Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009
  • 12. Sensient Technologies Corporation Page 6 (In thousands, except per share amounts) Consolidated Condensed Balance Sheets September 30, 2009 2008 Current assets $ 655,125 $ 669,515 Goodwill and intangibles (net) 472,867 485,286 Property, plant and equipment (net) 420,542 416,839 Other assets 38,462 42,607 Total Assets $ 1,586,996 $ 1,614,247 Current liabilities $ 197,034 $ 224,724 Long-term debt 411,259 450,437 Accrued employee and retiree benefits 40,685 45,275 Other liabilities 29,659 28,934 Shareholders’ equity 908,359 864,877 Total Liabilities and Shareholders’ Equity $ 1,586,996 $ 1,614,247 Consolidated Statements of Cash Flows Nine Months Ended September 30, 2009 2008 Net cash provided by operating activities $ 98,583 $ 66,288 Cash flows from investing activities: Acquisition of property, plant and equipment (30,933) (34,384) Proceeds from sale of assets 4 1,946 Other investing activity (615) 1,293 Net cash used in investing activities (31,544) (31,145) Cash flows from financing activities: Proceeds from additional borrowings 216,608 40,330 Debt payments (256,991) (65,420) Dividends paid (27,743) (26,412) Proceeds from options exercised and other 8,452 15,959 Net cash used in financing activities (59,674) (35,543) Effect of exchange rate changes on cash and cash equivalents (4,785) (23) Net increase (decrease) in cash and cash equivalents 2,580 (423) Cash and cash equivalents at beginning of period 8,498 10,522 Cash and cash equivalents at end of period $ 11,078 $ 10,099 Supplemental Information Nine Months Ended September 30, 2009 2008 Depreciation and amortization $ 31,458 $ 33,828 Dividends per share $ 0.57 $ 0.55 _______________________________________________ Created by Morningstar Document Research documentresearch.morningstar.com Source: SENSIENT TECHNOLOGIES CORP, 8-K, October 16, 2009