8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

July 14, 2006
(Date of Report/Date of earliest event reported)

SENSIENT TECHNOLOGIES CORPORATION

(Exact name of registrant as specified in its charter)

WISCONSIN	1-7626	39-0561070
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

777 East Wisconsin Avenue
Milwaukee, Wisconsin 53202-5304
(Address and zip code of principal executive offices)

(414) 271-6755
(Registrant’s telephone number, including area code)

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Press Release

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On July 14, 2006, Sensient Technologies Corporation issued a press release disclosing its results of operations for its quarter and six months ended June 30, 2006 and its financial condition at that date. The press release is furnished as Exhibit 99.1 to this Report on Form 8-K.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit 99.1: The following exhibit is furnished with this Report on Form 8-K: Sensient Technologies Corporation Earnings Press Release for the Quarter and Six Months Ended June 30, 2006

2

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SENSIENT TECHNOLOGIES CORPORATION
(Registrant)
By:	/s/ John L. Hammond
Name:	John L. Hammond
Title:	Vice President, Secretary and General Counsel
Date: July 14, 2006

3

EXHIBIT INDEX

Exhibit 99.1: The following exhibit is furnished with this Report on Form 8-K: Sensient Technologies Corporation Earnings Press Release for the Quarter and Six Months Ended June 30, 2006

EX-99.1

FOR IMMEDIATE RELEASE

Contact: Dick Hobbs
(414) 347-3836

Sensient Technologies Corporation
Reports Earnings for the Quarter Ended June 30, 2006

Second Quarter EPS Jumps 18% on Record Flavor Results

     MILWAUKEE — July 14, 2006 — Sensient Technologies Corporation (NYSE: SXT) reported revenue of $282.2 million for its second quarter ended June 30, 2006, up 7.0% from the comparable quarter in 2005. Second quarter diluted earnings per share jumped 17.6% to 40 cents from 34 cents in last year’s second quarter. Results for this year’s second quarter included a gain of approximately one cent per share from the sale of a non-core minority investment.

     Revenue for the first six months of this year was $545.1 million, a 5.9% increase from the prior year’s comparable period. Diluted earnings per share for the six months ended June 30, 2006, were 74 cents compared to 61 cents in last year’s first half.

     “All our Groups show revenue growth and higher operating profits,” said Kenneth P. Manning, Chairman, President and CEO of Sensient Technologies Corporation. “The Flavors & Fragrances Group performed particularly well, reporting record quarterly revenues and operating income. We expect the Company’s strong performance to continue in the second half and into next year.”

BUSINESS REVIEW

     The Flavors & Fragrances Group reported record quarterly revenues and operating income. Revenue increased 9.2% to $188.3 million for the 2006 second quarter. Operating

- MORE -

Sensient Technologies Corporation	Page 2
Earnings Release — Second quarter ended June 30, 2006
July 14, 2006

income was up 19.0% to $27.1 million compared to the second quarter of 2005. Year-to-date revenue increased 8.4% to $358.8 million and operating income was up 15.4% to $50.0 million. Group revenue in the quarter benefited from higher volumes and improved pricing, particularly within the North American flavors market. Higher sales, favorable product mix and improvements in the Company’s cost structure boosted quarterly profit.

     The Color Group’s second quarter revenue increased 1.6% to $90.5 million for the quarter ended June 30, 2006, compared to $89.1 million in last year’s second quarter. Operating income for the quarter equaled $15.8 million, up 7.8% from $14.7 million reported in the second quarter of 2005. For the past six months, revenue and operating income were $179.7 million and $31.7 million, respectively. Quarterly revenues for the Color Group reflected solid growth within food and beverage color product lines. A lower cost structure also contributed to Color Group profits.

2006 OUTLOOK

     Sensient now expects reported 2006 diluted earnings per share to be between $1.38 and $1.42.

CONFERENCE CALL

     The company will host a conference call to discuss its 2006 second quarter financial results at 10:00 a.m. CDT on Friday, July 14, 2006. To make a reservation for the conference call, please contact InterCall Teleconferencing at (706) 645-6973 and refer to the Sensient Technologies Corporation conference call.

     A replay will be available beginning at 1:00 p.m. CDT on July 14, 2006, through midnight on July 21, 2006, by calling (706) 645-9291 and referring to passcode 2726001. A transcript of the call will also be posted on the company’s web site at www.sensient-tech.com after the call concludes.

- MORE -

Sensient Technologies Corporation	Page 3
Earnings Release – Second quarter ended June 30, 2006
July 14, 2006

     This release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) that reflect management’s current assumptions and estimates of future economic circumstances, industry conditions, company performance and financial results. A variety of factors could cause the company’s actual results and experience to differ materially from the anticipated results, including, but not limited to the factors noted in this press release and in the Management’s Discussion and Analysis in our most recently filed annual report on Form 10-K for the year ended December 31, 2005, and quarterly report on Form 10-Q for the quarter ended March 31, 2006. The forward-looking statements in this press release speak only as to the date of this release. Sensient Technologies Corporation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations upon which such statements are based.

ABOUT SENSIENT TECHNOLOGIES

     Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, inkjet and specialty inks, display imaging chemicals, and other specialty chemicals. The company’s customers include major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.

     www.sensient-tech.com

-MORE-

Sensient Technologies Corporation
(In thousands, except percentages and per share amounts) Page 4

Consolidated Statements of Earnings

	Three Months Ended June 30,					Six Months Ended June 30,
	2006		2005		% Change	2006		2005		% Change
Revenue	$	282,212	$	263,750	7.0	$	545,136	$	514,627	5.9
Cost of products sold		196,711		184,222	6.8		380,196		360,407	5.5
Selling and administrative expenses		50,373		48,922	3.0		99,037		98,736	0.3
Operating income		35,128		30,606	14.8		65,903		55,484	18.8
Interest expense		8,980		8,902			17,688		17,626
Earnings before income taxes		26,148		21,704	20.5		48,215		37,858	27.4
Income taxes		7,685		5,841			14,134		9,164
Net earnings	$	18,463	$	15,863	16.4	$	34,081	$	28,694	18.8
Earnings per common share:
Basic	$	0.40	$	0.34	17.6	$	0.74	$	0.61	21.3
Diluted	$	0.40	$	0.34	17.6	$	0.74	$	0.61	21.3
Average common shares outstanding:
Basic		45,853		46,855	(2.1)		45,829		46,795	(2.1)
Diluted		46,114		47,181	(2.3)		46,043		47,174	(2.4)

Results by Segment

	Three Months Ended June 30,							Six Months Ended June 30,
	2006			2005			% Change	2006			2005			% Change
Revenue
Flavors & Fragrances	$	188,299		$	172,508		9.2	$	358,813		$	330,893		8.4
Color		90,526			89,114		1.6		179,682			179,174		0.3
Corporate & Other		10,222			9,821		4.1		20,226			20,362		(0.7)
Intersegment elimination		(6,835	)		(7,693	)	(11.2)		(13,585	)		(15,802	)	(14.0)
Consolidated	$	282,212		$	263,750		7.0	$	545,136		$	514,627		5.9
Operating Income
Flavors & Fragrances	$	27,120		$	22,782		19.0	$	50,013		$	43,321		15.4
Color		15,836			14,692		7.8		31,681			29,456		7.6
Corporate & Other		(7,828	)		(6,868	)	14.0		(15,791	)		(17,293	)	(8.7)
Consolidated	$	35,128		$	30,606		14.8	$	65,903		$	55,484		18.8

- MORE -

Sensient Technologies Corporation
(In thousands, except percentages and per share amounts) Page 5

Consolidated Condensed Balance Sheets

June 30,	2006		2005
Current assets	$	532,702	$	510,399
Intangibles (net)		448,580		442,814
Property, plant and equipment (net)		379,348		381,670
Other assets		59,139		68,106
Total Assets	$	1,419,769	$	1,402,989
Current liabilities	$	272,456	$	206,845
Long-term debt		433,854		495,659
Accrued employee and retiree benefits		44,920		37,486
Other liabilities		8,317		14,821
Shareholders’ equity		660,222		648,178
Total Liabilities and Shareholders’ Equity	$	1,419,769	$	1,402,989

Consolidated Statements of Cash Flows

Six Months Ended June 30,	2006			2005
Net cash provided by operating activities	$	43,635		$	59,177
Cash flows from investing activities:
Acquisition of property, plant and equipment		(17,805	)		(14,125	)
Proceeds from sale of assets		3,150			—
Decrease in other assets		1,074			223
Net cash used in investing activities		(13,581	)		(13,902	)
Cash flows from financing activities:
Proceeds from additional borrowings		23,400			30,110
Debt and capital lease payments		(39,744	)		(62,734	)
Purchase of treasury stock		(4,563	)		—
Dividends paid		(13,902	)		(14,150	)
Proceeds from options exercised and other		2,868			3,555
Net cash used in financing activities		(31,941	)		(43,219	)
Effect of exchange rate changes on cash and cash equivalents		(142	)		(623	)
Net (decrease) increase in cash and cash equivalents		(2,029	)		1,433
Cash and cash equivalents at beginning of period		7,068			2,243
Cash and cash equivalents at end of period	$	5,039		$	3,676

Supplemental Information

Six Months Ended June 30,	2006		2005
Depreciation and amortization	$	21,850	$	23,009
Dividends per share	$	0.30	$	0.30

# # #