NEW YORK — Fragrance supplier International Flavors & Fragrances said Wednesday that fourth-quarter profits slipped 1.6 percent on higher interest expenses.
Net earnings for the quarter ended Dec. 31 were $47.2 million, or 58 cents a diluted share, from almost $48 million, or 53 cents a share, in the same period a year ago. Excluding nonrecurring items such as restructuring charges, disposition of assets and a tax benefit, earnings per share for the fourth quarter were 53 cents, compared with 45 cents a year ago. Wall Street analysts expected earnings per share of 54 cents, according to Yahoo Finance.
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