IFF
This article was originally published in The Rose Sheet
Executive Summary
Fine perfumery sales "dropped slightly" in the second quarter, due to difficult comparisons in second quarter 1998 when the supplier helped launch Clinique's Happy, Estee Lauder's Dazzling Silver and Contradiction for Men by Calvin Klein, Chief Financial Officer Doug Wetmore told analysts during a conference call July 22. International Flavors & Fragrances net sales inched up 1.6% to $371.1 mil. in the quarter and closed flat at $738.8 mil. through six months. Net income was down 9.5% to $50.6 mil. for the quarter and fell 16.2% to $99.4 mil. in the half. As expected, the company took a charge of $35 mil. from its restructuring program. IFF's Year 2000 program also affected earnings