Sensient Technologies Q1 Profit Tops Estimate; Cuts FY15 Earnings Outlook

(RTTNews) - Sensient Technologies Corp. (SXT) reported net income for the first quarter of $30.5 million or $0.64 per share, compared to a net loss of $2.1 million or $0.04 per share for the year-ago quarter.

Income from contimuing operatis for the first quarter was $30.7 million or $0.65 per share, compared to $2.6 million or $0.05 per share in the prior year quarter.

Sensient's first quarter adjusted earnings per share were $0.76, compared to last year's $0.71.

Revenue for the first quarter fell 5.7% to $346.23 million from $367.13 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.73 per share on revenue of $361.95 million for the first quarter. Analysts' estimates typically exclude special items.

Sensient lowered its full year adjusted earnings per share guidance to a range of $3.00 to $3.09 from its previous guidance of $3.02 to $3.12, due to the continued strengthening of the U.S. dollar. Analysts currently expect the company to earn $3.06 per share for the full year 2015.