Consolidated revenue for the first quarter of 2011 increased 11.3% to an all-time quarterly record of $349.7m compared to $314.1m in the first quarter of 2010. Favourable foreign currency translation increased consolidated revenue by approximately 1%.
Cash provided by operating activities in the first quarter rose 21.2% to a first quarter record of $28.4m, compared to $23.4m in the prior year’s comparable period. Total debt at 31 March 2011, was $343.9m, a reduction of $5.9m in the quarter and $71.3m in the last twelve months. “All of our businesses performed very well this quarter, led by the Color Group, which reported all-time quarterly highs for both revenue and operating profit,” said Kenneth P Manning, chairman and CEO of Sensient Technologies Corporation. “We remain very optimistic about the Company’s future and see solid opportunities for growth.”
Source: Sensient Technologies Corporation
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