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 Sensient Technologies Corporation Reports Results for the Quarter and Year Ended December 31, 2017
   Thursday, February 08, 2018 6:00:00 PM ET

Sensient Technologies Corporation (SXT ) reported earnings per share from continuing operations of 31 cents in the fourth quarter of 2017 compared to 70 cents in last year’s fourth quarter. Revenue was $328.9 million in this year’s fourth quarter compared to $330.2 million in the comparable period last year. Operating income was $47.4 million in the fourth quarter of 2017 and $43.3 million in last year’s fourth quarter. Foreign currency translation increased revenue by approximately 3%, operating income by approximately 2% and earnings per share by approximately 1% in the fourth quarter.

For the year ended December 31, 2017, earnings per share from continuing operations were $2.03 compared to $2.74 for the year ended December 31, 2016. Revenue was approximately $1.4 billion in both 2017 and 2016. Operating income was $167.8 million and $185.6 million for the years ended December 31, 2017 and 2016, respectively. Foreign currency translation did not have a significant impact on full year 2017 revenue, operating income or earnings per share.

The reported results include restructuring and other costs and the impact of the Tax Cuts and Jobs Act ("2017 Tax Legislation"), which are described in more detail under "Reconciliation of Non-GAAP Amounts" below. Restructuring and other costs reduced operating income by $2.9 million ($4.7 million after-tax or 11 cents per share), in this year’s fourth quarter and $48.1 million ($42.5 million after-tax or 96 cents per share), for the full year of 2017. The impact of the 2017 Tax Legislation on net earnings was $18.4 million, or 42 cents per share, in both the current quarter and full year of 2017. In 2016, restructuring and other costs reduced operating income by $6.2 million ($4.2 million after-tax or 9 cents per share), in the fourth quarter, and $26.1 million ($21.1 million after-tax or 47 cents per share), for the full year of 2016.

The adjusted results, discussed below, eliminate the impact of restructuring and other costs, and the 2017 Tax Legislation, and enhance the overall understanding of the Company’s performance when viewed together with our GAAP results. Refer to "Reconciliation of Non-GAAP Amounts" below. Sensient’s adjusted earnings per share from continuing operations increased approximately 5% to 84 cents in this year’s fourth quarter, compared to 80 cents in the comparable period last year. Fourth quarter adjusted operating income was $50.3 million, compared to $49.5 million reported in the fourth quarter of 2016. Foreign currency translation increased adjusted operating income by approximately 2% and adjusted earnings per share by approximately 1%.

For the year ended December 31, 2017, adjusted earnings per share from continuing operations were $3.42, an increase of approximately 6.5%, from last year’s result of $3.21. Adjusted operating income was $215.9 million for the full year of 2017 compared to $211.7 million in the comparable period last year. Foreign currency translation did not have a significant impact on either full year 2017 adjusted operating income or adjusted earnings per share.

Cash provided by operating activities was $69.4 million in the fourth quarter of 2017 compared to $71.9 million in the fourth quarter of 2016. The 2017 and 2016 cash flow results included proceeds of $20 million and $40 million, respectively, from accounts receivable securitization transactions. The Company repurchased 300,000 shares of its common stock in the fourth quarter of 2017 and approximately 1.1 million shares for the full year. Including dividend payments, the Company returned approximately $140 million to shareholders in 2017.

BUSINESS REVIEW

The Color Group reported revenue of $126.2 million in the quarter and $119.7 million in last year’s fourth quarter, an increase of 5.4%. Segment operating income increased 11.4% to $25.5 million in the quarter from $22.9 million in last year’s fourth quarter. Foreign currency increased both revenue and operating income by approximately 3% in the quarter. The Group’s higher profit was driven by continued strong results in Cosmetics and solid performances by the Food Color businesses in North America and Asia.

For the full year, the Color Group reported revenue of $526.4 million, an increase of 4.4% from $504.1 million reported in the comparable period last year. Segment operating income increased 7.2% to $113.4 million compared to $105.8 million reported in 2016. Foreign currency translation increased both revenue and operating income by approximately 1% in 2017.

The Flavors & Fragrances Group reported fourth quarter revenue of $178.5 million compared to $187.1 million reported in the comparable period last year. Segment operating income was $24.1 million in the fourth quarter compared to $28.6 million reported in the fourth quarter of 2016. The Group’s lower results were primarily due to the carryover of higher than expected costs incurred at one site involved in restructuring. While the operational and sales backlog issues experienced at this site earlier in 2017 have been addressed, the costs involved were higher than expected and have reduced the Group’s fourth quarter results. Outside of this one site, the business performed well with good profit growth from the BioNutrients, European Sweet and European Savory businesses. Foreign currency translation increased revenue by approximately 2% in the quarter and had a minimal impact on operating income. The impact of the two divestitures that occurred in the first quarter of this year, decreased revenue by approximately 4% in the quarter.

The Flavors & Fragrances Group reported revenue of $746.9 million and $795.8 million for the full years of 2017 and 2016, respectively. Segment operating income was $114.3 million in 2017 and $124.1 million in 2016. Foreign currency translation had a minimal impact on both revenue and operating income in 2017. The impact of the two divestitures that occurred in the first quarter of this year, decreased revenue by approximately 3% in 2017.

The Asia Pacific Group reported revenue of $31.9 million, an increase of 3.7% compared to $30.8 million reported in the comparable period last year. Segment operating income was $6.0 million and $6.1 million in the fourth quarters of 2017 and 2016, respectively. Foreign currency translation increased segment revenue and operating income by approximately 2% and 3%, respectively. For the full year of 2017 and 2016, revenue was $123.2 million and $121.2 million, respectively. Segment operating income was $20.8 million and $23.6 million in 2017 and 2016, respectively. Foreign currency translation increased both revenue and operating income by approximately 1% in 2017.

Corporate & Other, which includes the restructuring and other costs, reported operating costs of $8.2 million in the current quarter and $14.3 million in the fourth quarter of 2016. For the full year, the Corporate & Other segment, had operating costs of $80.7 million compared to $67.9 million in 2016. The higher Corporate & Other costs in 2017 are primarily attributable to higher restructuring and other costs, which principally relate to the non-cash losses from the divestitures of two businesses in the year.

"The Company delivered adjusted earnings per share growth of 6.5%, and the Color Group had a strong year," said Paul Manning, Chairman, President and CEO of Sensient Technologies Corporation. "With our restructuring now complete, I am confident Sensient will deliver strong results in 2018, and I remain very optimistic about the Company’s future."

2018 OUTLOOK

Sensient expects diluted earnings per share for 2018 to be between $3.70 and $3.90.

CONFERENCE CALL

The Company will host a conference call to discuss its 2017 fourth quarter and full year financial results at 10:00 a.m. CST on Friday, February 9, 2018. To participate in the conference call, please contact InterCall Teleconferencing at (888) 818-9025 and refer to conference identification number 6468858. A webcast of the conference call will be available on the Investor Information section of the Company’s web site at www.sensient.com.

A replay will be available beginning at 1:00 p.m. CST on February 9, 2018, through midnight on February 16, 2018, by calling (404) 537-3406 and referring to conference identification number 6468858. A transcript of the call will be posted on the Company’s web site at www.sensient.com after the call concludes.

This release contains statements that may constitute "forward-looking statements" within the meaning of Federal securities laws. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors concerning the Company’s operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to successfully implement its strategy to create sustainable, long-term shareholder value; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts; changes in costs or availability of raw materials, including energy; industry and economic factors related to the Company’s domestic and international business; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors, including increased intensity of competition; the loss of any customers in certain product lines in which our sales are made to a relatively small number of customers; product liability claims or product recalls; the costs of compliance, or failure to comply, with laws and regulations applicable to our industries and markets; changing consumer preferences and changing technologies; currency exchange rate fluctuations; estimates related to the Tax Cuts and Jobs Act and its effects on our results; and failure to complete and integrate future acquisitions or dispositions. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition and results of operations. This release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized. Additional information regarding these risks can be found in our most recent Annual Report on Form 10-K and subsequent reports that we file with the SEC.

ABOUT SENSIENT TECHNOLOGIES

Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and fragrances. Sensient employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, inkjet and specialty inks and colors, and other specialty and fine chemicals. The Company’s customers include major international manufacturers representing most of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin. www.sensient.com

                                                                                                                                                                                                                                                                                                   
Sensient Technologies Corporation                                                                                                                                                                                                                                                                                                                                                                                      
(In thousands, except percentages and per share amounts)
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
Consolidated Statements of Earnings                                                                                                                Three Months Ended December 31,                                                                                                                                                     Twelve Months Ended December 31,
                                                                                     -----------------------------------------------------------------------------------------------------------------------------------------------                                -------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                            2017                                                                   2016                                              % Change                                               2017                                                                     2016                                                   % Change
                                                                                     --------------------------------------------------                     --------------------------------------------------                     ------------                     ----------------------------------------------------                     ----------------------------------------------------                     ---------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Revenue                                                                                                 $ 328,874                                                              $ 330,244                                               -0.4 %                                          $ 1,362,265                                                              $ 1,383,210                                                 -1.5 %
                                                                                                                                                                                                                                                                                                                                                                                                                       
Cost of products sold                                                                                     216,289                                                                217,657                                               -0.6 %                                              886,775                                                                  907,783                                                 -2.3 %
Selling and administrative expenses                                                     65,206                           69,313                            -5.9 %                           307,684                            289,818                               6.2 %
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Operating income                                                                                           47,379                                                                 43,274                                                9.5 %                                              167,806                                                                  185,609                                                 -9.6 %
Interest expense                                                                         4,909                            4,303                                                              19,383                             18,324  
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Earnings before income taxes                                                                               42,470                                                                 38,971                                                                                                   148,423                                                                  167,285
Income taxes                                                                            29,049                            7,621                                                              58,823                             44,372  
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Earnings from continuing operations                                                                        13,421                                                                 31,350                                                                                                    89,600                                                                  122,913
Gain from discontinued operations, net of tax                                                -                                -                                                                   -                              3,343  
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
Net earnings                                                                                            $  13,421                                           $  31,350                           -57.2 %                                          $    89,600                                           $   126,256                             -29.0 %
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
Earnings per share of common stock:
Basic:
                             Continuing operations                                                      $    0.31                                                              $    0.71                                                                                               $      2.05                                                              $      2.76
                             Discontinued operations                                         -                                -                                                                   -                               0.08  
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
                             Earnings per share of common stock                                         $    0.31                                           $    0.71                                                                            $      2.05                                           $      2.84  
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
Diluted:
                             Continuing operations                                                      $    0.31                                                              $    0.70                                                                                               $      2.03                                                              $      2.74
                             Discontinued operations                                         -                                -                                                                   -                               0.07  
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
                             Earnings per share of common stock                                         $    0.31                                           $    0.70                                                                            $      2.03                                           $      2.82  
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
Average common shares outstanding:
                             Basic                                                      43,285                           44,284                                                              43,780                             44,523  
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
                             Diluted                                                    43,509                           44,611                                                              44,031                             44,843  
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
Reconciliation of Non-GAAP Amounts
                                                                                                                                                                                                                                                                                                                                                                                                                       
The Company’s results from continuing operations for the three and
twelve months ended December 31, 2017, include pre-tax restructuring
and other costs of $2.9 million ($4.7 million after-tax or $0.11 per
share) and $48.1 million ($42.5 million after-tax or $0.96 per
share), respectively. The Company’s results from continuing
operations for the three and twelve months ended December 31, 2016,
include pre-tax restructuring and other costs of $6.2 million ($4.2
million after-tax or $0.09 per share) and $26.1 million ($21.1
million after-tax or $0.47 per share), respectively. The
restructuring costs relate to eliminating underperforming
operations, consolidating manufacturing facilities and improving
efficiencies within the Company. The other costs in 2017 and 2016
relate to the now completed sale of a facility and certain related
business lines within the Flavors & Fragrances segment in
Strasbourg, France. In addition, the Company’s fourth quarter and
2017 results include a provisional estimate of $18.4 million of tax
expense ($0.42 per share) related to the Tax Cuts and Jobs Act
("2017 Tax Legislation").
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                   Three Months Ended December 31,                                                                                                                                                     Twelve Months Ended December 31,
                                                                                     ----------------------------------------------------------------------------------------------------------------------------------------------------------                     -----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                            2017                                                                   2016                                              % Change                                               2017                                                                     2016                                                   % Change
                                                                                     --------------------------------------------------                     --------------------------------------------------                     ------------                     ----------------------------------------------------                     ----------------------------------------------------                     ---------------------
Operating income from continuing operations (GAAP)                                                      $  47,379                                                              $  43,274                                                9.5 %                                          $   167,806                                                              $   185,609                                                 -9.6 %
    Restructuring - Cost of products sold                                                                    (526 )                                                                1,255                                                                                                     2,889                                                                    2,065
    Restructuring - Selling and administrative                                                              3,415                                                                  3,898                                                                                                    33,627                                                                   12,486
    Other - Selling and administrative                                                       -                            1,052                                                              11,555                             11,535  
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
Adjusted operating income                                                                               $  50,268                                           $  49,479                             1.6 %                                          $   215,877                                           $   211,695                               2.0 %
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
Net earnings from continuing operations (GAAP)                                                          $  13,421                                                              $  31,350                                              -57.2 %                                          $    89,600                                                              $   122,913                                                -27.1 %
    Restructuring and other, before tax                                                                     2,889                                                                  6,205                                                                                                    48,071                                                                   26,086
    Tax impact of restructuring and other                                                                   1,822                                                                 (2,000 )                                                                                                  (5,602 )                                                                 (4,999 )
    Impact of the 2017 Tax Legislation                                                  18,446                                -                                                              18,446                                  -  
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
Adjusted net earnings                                                                                   $  36,578                                           $  35,555                             2.9 %                                          $   150,515                                           $   144,000                               4.5 %
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
Diluted EPS from continuing operations (GAAP)                                                           $    0.31                                                              $    0.70                                              -55.7 %                                          $      2.03                                                              $      2.74                                                -25.9 %
  Restructuring and other, net of tax                                                                        0.11                                                                   0.09                                                                                                      0.96                                                                     0.47
  2017 Tax Legislation                                                                    0.42                                -                                                                0.42                                  -  
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
Adjusted diluted EPS                                                                                    $    0.84                                           $    0.80                             5.0 %                                          $      3.42                                           $      3.21                               6.5 %
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
We have included each of these non-GAAP measures in order to provide
additional information regarding our underlying operating results
and comparable period-over-period performance. Such information is
supplemental to information presented in accordance with GAAP and is
not intended to represent a presentation in accordance with GAAP.
These non-GAAP measures should not be considered in isolation.
Rather, they should be considered together with GAAP measures and
the rest of the information included in this release and our SEC
filings. Management internally reviews each of these non-GAAP
measures to evaluate performance on a comparative period-to-period
basis and to gain additional insight into underlying operating and
performance trends, and we believe the information can be beneficial
to investors for the same purposes. These non-GAAP measures may not
be comparable to similarly titled measures used by other companies.
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
Note: Earnings per share calculations may not foot due to
rounding differences.
                                                                                                                                                                                                                                                                                                                                                                                                                       
                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
Sensient Technologies Corporation                                                                                                                                                                                                                                                                                                                                                                                      
(In thousands, except per share amounts)
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
Results by Segment                                                                                                                                 Three Months Ended December 31,                                                                                                                                                     Twelve Months Ended December 31,
                                                                                     ----------------------------------------------------------------------------------------------------------------------------------------------------------                     -----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Revenue                                                                                                     2017                                                                   2016                                              % Change                                               2017                                                                     2016                                                   % Change
--------------------------------------------------------------                       -----------------------------------------------                        -----------------------------------------------                        ---------                        -------------------------------------------------                        -------------------------------------------------                        -------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Flavors & Fragrances                                                                                    $ 178,520                                                              $ 187,064                                               -4.6 %                                          $   746,943                                                              $   795,811                                                 -6.1 %
Color                                                                                                     126,180                                                                119,716                                                5.4 %                                              526,363                                                                  504,131                                                  4.4 %
Asia Pacific                                                                                               31,904                                                                 30,773                                                3.7 %                                              123,193                                                                  121,196                                                  1.6 %
Intersegment elimination                                                                (7,730 )                                            (7,309 )                                                                              (34,234 )                                             (37,928 )
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Consolidated                                                                                            $ 328,874                                           $ 330,244                            -0.4 %                                          $ 1,362,265                                           $ 1,383,210                              -1.5 %
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                       
Operating Income
--------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Flavors & Fragrances                                                                                    $  24,065                                                              $  28,565                                              -15.8 %                                          $   114,343                                                              $   124,059                                                 -7.8 %
Color                                                                                                      25,468                                                                 22,867                                               11.4 %                                              113,381                                                                  105,814                                                  7.2 %
Asia Pacific                                                                                                6,022                                                                  6,103                                               -1.3 %                                               20,772                                                                   23,603                                                -12.0 %
Corporate & Other                                                                       (8,176 )                                           (14,261 )                                                                              (80,690 )                                             (67,867 )
                                                                                     -------------------- ------- --------------------                      -------------------- ------- --------------------                                                       -------------------- --------- --------------------                      -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                       
Consolidated                                                                                            $  47,379                                           $  43,274                             9.5 %                                          $   167,806                                           $   185,609                              -9.6 %
                                                                                     ==================== ======= ====================                      ==================== ======= ====================                                                       ==================== ========= ====================                      ==================== ========= ====================
                                                                                                                                                                                                                           
                                                                                                                                                                                                                           
The Company’s reportable segments consist of the Flavors &
Fragrances, Color, and Asia Pacific segments. Beginning in the first
quarter of 2017, the results of operations for certain of the
cosmetic and fragrance businesses in the Asia Pacific segment, are
now reported in the Color segment and Flavors & Fragrances segment,
respectively. The results for 2016 have been restated to reflect
these changes. The 2017 and 2016 restructuring and other costs
related to continuing operations are reported in Corporate & Other.
                                                                                                                                                                                                                           
                                                                                                                                                                                                                           
Consolidated Condensed Balance Sheets
December 31,                                                                                                                        2017                                                 2016
                                                                                                            ---------------------------------------------------- ----------------------------------------------------
                                                                                                                                                                                                                           
Cash and cash equivalents                                                                                                      $    29,344                                          $    25,865
Trade accounts receivable, net                                                                                                     195,439                                              194,509
Inventories                                                                                                                        463,517                                              404,320
Other current assets                                                                                             45,175         92,367  
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                               Total Current Assets                                                                                733,475                                              717,061
                                                                                                                                                                                                                           
Goodwill & intangible assets (net)                                                                                                 416,206                                              391,694
Property, plant, and equipment (net)                                                                                               498,523                                              476,523
Other assets                                                                                                     76,136         82,582  
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
                               Total Assets                                                                                    $ 1,724,340                       $ 1,667,860  
                                                                                                            ==================== ========= ====================  ==================== ========= ====================
                                                                                                                                                                                                                           
Trade accounts payable                                                                                                         $   109,780                                          $    92,450
Short-term debt                                                                                                                     20,130                                               20,578
Other current liabilities                                                                                        86,413        100,647  
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                               Total Current Liabilities                                                                           216,323                                              213,675
                                                                                                                                                                                                                           
Long-term debt                                                                                                                     604,159                                              582,780
Accrued employee and retiree benefits                                                                                               19,294                                               19,911
Other liabilities                                                                                                                   32,263                                               15,753
Shareholders’ Equity                                                                                            852,301        835,741  
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
                               Total Liabilities and Shareholders’ Equity                                                      $ 1,724,340                       $ 1,667,860  
                                                                                                            ==================== ========= ====================  ==================== ========= ====================
                                                                                                                                                                                                                           
                                                                                                                                                                                                                           
                                                                                                                                                                                                                           
                                                                                                                                                                                                                           
                                        
                                                                                                                                                                                                                           
Sensient Technologies Corporation                                                                                                                                                                                          
(In thousands, except per share amounts)
                                                                                                                                                                                                                           
Consolidated Statements of Cash Flows
Three Months Ended December 31,                                                                                                     2017                                                 2016
                                                                                                            ---------------------------------------------------- ----------------------------------------------------
                                                                                                                                                                                                                           
Cash flows from operating activities:
                               Net earnings                                                                                    $    13,421                                          $    31,350
                               Adjustments to arrive at net cash provided by operating activities:
                                   Depreciation and amortization                                                                    11,892                                               11,843
                                   Stock-based compensation                                                                           (441 )                                                966
                                   Net loss on assets                                                                                1,181                                                1,862
                                   Deferred income taxes                                                                            26,501                                                1,974
                                   Changes in operating assets and liabilities                                   16,830         23,889  
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
Net cash provided by operating activities                                                                        69,384         71,884  
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
Cash flows from investing activities:
                               Acquisition of property, plant and equipment                                                        (23,519 )                                            (23,212 )
                               Proceeds from sale of assets                                                                          5,041                                                2,657
                               Other investing activity                                                             (77 )                            (159 )
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
Net cash used in investing activities                                                                           (18,555 )                         (20,714 )
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
Cash flows from financing activities:
                               Proceeds from additional borrowings                                                                  42,787                                               59,192
                               Debt payments                                                                                       (49,786 )                                            (61,395 )
                               Purchase of treasury stock                                                                          (22,731 )                                            (22,372 )
                               Dividends paid                                                                                      (14,342 )                                            (13,278 )
                               Other financing activity                                                          (2,395 )                          (4,115 )
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
Net cash used in financing activities                                                                           (46,467 )                         (41,968 )
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
Effect of exchange rate changes on cash and cash equivalents                                                        328         (6,842 )
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
                                                                                                                                                                                                                           
Net increase in cash and cash equivalents                                                                                            4,690                                                2,360
Cash and cash equivalents at beginning of period                                                                 24,654         23,505  
                                                                                                            -------------------- --------- --------------------  -------------------- --------- --------------------
Cash and cash equivalents at end of period                                                                                     $    29,344                       $    25,865  
                                                                                                            ==================== ========= ====================  ==================== ========= ====================
                                                                                                                                                                                                                           
                                                                                                                                                                                                                           
                                                                                                                                                                                                                           
Supplemental Information
Three Months Ended December 31,                                                                                                     2017                                                 2016
                                                                                                            ---------------------------------------------------- ----------------------------------------------------
                                                                                                                                                                                                                           
Dividends paid per share                                                                                                       $      0.33                                          $      0.30

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20180208006526r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20180208006526/en/

SOURCE: Sensient Technologies Corporation

Sensient Technologies Corporation 
Kim Chase 
(414) 347-3706


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