WASHINGTON (dpa-AFX) - International Flavors & Fragrances Inc. (IFF) reported second quarter net income of $105.4 million or $1.29 per share, compared to $110.3 million or $1.35 per share, prior year. Adjusted earnings per share was $1.36, for the quarter.
On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.36 for the quarter. Analysts' estimates typically exclude special items.
Sales were $767.54 million compared to $788.41 million last year. Analysts expected revenue of $776.28 million for the quarter.
For 2015, the company expects currency neutral sales to grow about 6%, including approximately 2 percentage points related to the acquisitions of Ottens Flavors and Lucas Meyer Cosmetics. The company expects this growth, combined with continued cost control, should lead to approximately 9% adjusted operating profit growth and about 10% adjusted EPS growth, all on a currency neutral basis.
The company expects full year sales to be down approximately 1% and adjusted operating profit to rise 4% including the impact of currency.
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