Sensient Technologies cuts 2009 profit outlook
Fragrance maker Sensient Technologies cuts 2009 earnings outlook to below Street expectations
- On 10:25 am EDT, Friday October 16, 2009
MILWAUKEE (AP) -- Sensient Technologies Corp. on Friday lowered its 2009 earnings forecast due to "soft economic conditions."
The maker of flavors, fragrances and colors, which also reported a 5 percent decline in its third-quarter profit, cut its full-year outlook for earnings per share to $1.85 to $1.90. Earlier this year the company had predicted $1.90 to $1.95 per share.
Analysts polled by Thomson Reuters expect, on average, $1.97 per share.
In morning trading, shares of Sensient Technologies fell $2.24, or 7.7 percent, to $28.87.
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