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For the first quarter of 2009, net sales were $559.63 million, down 6%, compared to $596.6 million for the same quarter of 2008. Gross margin was $222.2 million, down 9%, compared to $245.48 million for the same quarter of 2008.
Robert Amen, chairman and CEO of International Flavors & Fragrances (IFF), said: "In light of current global turmoil, I believe that IFF's first quarter results were good. We faced multiple challenges during the quarter, economic contractions in North America and Europe, higher input costs and currency parity changes. We managed some of these issues well but we have opportunities to improve."
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