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UPDATE 1-International Flavor quarterly profit climbs
August 9, 2011 / 11:27 AM / 6 years ago

UPDATE 1-International Flavor quarterly profit climbs

* Q2 EPS ex-items of 97 cts vs Wall St view of 96 cts

* Net sales up 7.5 pct at $715.6 bln

NEW YORK, Aug 9 (Reuters) - International Flavors & Fragrances (IFF.N) posted higher quarterly earnings as growth in developing markets helped offset higher raw materials costs and weaker sales of its fragrance and beauty care products.

Net income in the second quarter rose to $76.2 million, or 93 cents per share, from $67.2 million, or 83 cents per share, a year earlier.

Excluding one-time items, earnings per share were 97 cents, while analysts on average were expecting 96 cents, according to Thomson Reuters I/B/E/S.

Net sales rose 7.5 percent to $715.6 billion, beating the analysts’ forecast of $701.7 million. (Reporting by Matt Daily; Editing by Lisa Von Ahn)

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