International Flavors and Fragrances Inc. reported first-quarter results for the period ended April 1, with its fragrances segment showing a gain.
For the three months ended March 31, net income fell 8 percent to $118.6 million, or $1.47 a diluted share, from $128.3 million, or $1.57, in the year ago quarter. Net sales rose 1 percent to $783.3 million from $774.9 million.
By segment, its fragrances business unit rose 3.3 percent to $410.8 million form $397.8 million. Operating margin for its fragrances unit saw an increase to 21.7 percent from 20.5 percent.