NEW YORK (AP) — NEW YORK (AP) — International Flavors & Fragrances Inc. (IFF) on Wednesday reported fourth-quarter profit of $18 million.
On a per-share basis, the New York-based company said it had net income of 7 cents. Earnings, adjusted for one-time gains and costs, came to 80 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The ingredients producer for food, cosmetics and consumer products industries posted revenue of $2.59 billion in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $2.51 billion.
For the year, the company reported a loss of $374 million, or $1.46 per share. Revenue was reported as $10.89 billion.
International Flavors expects full-year revenue in the range of $10.5 billion to $10.8 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IFF at https://www.zacks.com/ap/IFF
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