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In the fourth quarter of 2008, the company's reported sales decreased 3% to $539.1 million, compared to $553.5 million in the fourth quarter of 2007.
For the full year 2008, the company reported a net income of $229.63 million, or $2.87 per diluted share, compared to $247.13 million, or $2.82 per diluted share, in 2007. Net sales in 2008 totaled $2.39 billion, up 5%, compared to $2.28 billion in 2007.
Robert Amen, chairman and CEO of International Flavors & Fragrances, said: "I am generally pleased with our 2008 financial performance, especially in light of the challenging economic and market conditions we faced this year. Our flavors business continues to outperform our competition and is well-positioned for future growth."
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