Milwaukee-based seasonings and flavors manufacturer Sensient Technologies Corp. today reported fourth quarter net earnings of $28.05 million, or 56 cents per share, up from $27.22 million, or 55 cents per share, in the fourth quarter of 2012.
Revenue for the fourth quarter was $351.11 million, down from $356.24 million in the same period a year ago.
The earnings included a restructuring charge of seven cents per share, the company said.
For the full year, Sensient reported net earnings of $113.3 million, or $2.27 per share, down 8.8 percent from $123.9 million, or $2.49 per share, in 2012.
Sensient’s 2013 revenue was $1.47 billion, up slightly from $1.46 billion in 2012.
Full-year earnings were impacted by 44 cents per share in restructuring costs.
By the end of 2013, Sensient had completed its $31.7 million restructuring plan, which involved relocating its Flavors & Fragrances Group headquarters from Indianapolis to Chicago and consolidating several other facilities.
“Sensient had an exceptional year in 2013, and we delivered strong results in the fourth quarter,” said Paul Manning, president and chief executive officer of Sensient. “The Color Group performed very well throughout the year, and I was encouraged by the Flavors & Fragrances Group’s performance in the fourth quarter. I am confident in our ability to grow both businesses and I am optimistic about 2014 and beyond.”
