International Flavors And Fragrances Inc Q4 Profit Decreases, but beats estimates

(RTTNews) - International Flavors And Fragrances Inc (IFF) released a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $3 million, or $0.01 per share. This compares with $90 million, or $0.35 per share, in last year's fourth quarter.

Excluding items, International Flavors And Fragrances Inc reported adjusted earnings of $247 million or $0.97 per share for the period.

Analysts on average had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.3% to $2.84 billion from $3.03 billion last year.

International Flavors And Fragrances Inc earnings at a glance (GAAP) :

-Earnings (Q4): $3 Mln. vs. $90 Mln. last year. -EPS (Q4): $0.01 vs. $0.35 last year. -Analyst Estimates: $0.96 -Revenue (Q4): $2.84 Bln vs. $3.03 Bln last year.