Fragrance company posts lower first quarter earnings

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International Flavors & Fragrances Inc. posted first-quarter net income of $81 million, or 99 cents per share, compared to $84 million, or $1.03 per share, in the first quarter of 2011.

Quarterly revenue was $710.6 million, down from $714.2 million in the year earlier period.

“The diversity and strength of our category and geographic portfolios, combined with our cost discipline, helped ease the impact of rising raw material costs, softness in Fragrance Ingredients, and a challenging macroeconomic environment,” said company Chairman and Chief Executive, Doug Tough.

International Flavors & Fragrances has a production facility in south Augusta.

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