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 16, 2007
(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:

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

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

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

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

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On July 16, 2007, Sensient Technologies Corporation issued a press release disclosing its results of operations for its quarter ended June 30, 2007 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 Ended June 30, 2007

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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 16, 2007

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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 Ended June 30, 2007

EX-99.1

FOR IMMEDIATE RELEASE

Contact: Dick Hobbs
(414) 347-3836

Sensient Technologies Corporation
Reports Earnings for the Quarter Ended June 30, 2007

Record Sales Drive 12.5% Increase in Second Quarter EPS

Total Debt Reduced $30.5 Million on Record Cash Flow

     MILWAUKEE—July 16, 2007 — Sensient Technologies Corporation (NYSE: SXT) reported record quarterly revenue of $304.3 million for its second quarter ended June 30, 2007, up 7.8% from the comparable quarter in 2006. Second quarter diluted earnings per share rose 12.5% to 45 cents from 40 cents in last year’s second quarter. Results for the 2006 second quarter included a gain of approximately one cent per share from the sale of a non-core investment.

     Revenue for the first six months of this year was $589.6 million, an 8.2% increase from the prior year’s comparable period. Diluted earnings per share for the six months ended June 30, 2007, were up 10.8% to 82 cents compared to 74 cents in last year’s first half.

     Cash provided by operating activities rose sharply in the quarter, to a record level of $43.7 million. Total debt was reduced by $30.5 million in the quarter as a result of the strong cash flow.

     “We reported record revenue and operating income in our second quarter,” said Kenneth P. Manning, Chairman, President and CEO of Sensient Technologies Corporation. “The Company has achieved six consecutive quarters of earnings growth and we expect this strong performance to continue into 2008.”

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Sensient Technologies Corporation	Page 2
Earnings Release — Second quarter ended June 30, 2007
July 16, 2007

BUSINESS REVIEW

     The Flavors & Fragrances Group reported record quarterly revenue and operating income. Second quarter 2007 revenue increased 7.7% to $202.9 million. Operating income was up 15.0% to $31.2 million compared to the second quarter of 2006. Year-to-date revenue increased 7.9% to $387.2 million and operating income was up 14.7% to $57.4 million. Group revenue in the quarter benefited from higher volumes and improved pricing. Foreign currency translation increased quarterly revenue by approximately 2.7%. Solid volume growth was experienced in all major markets, including the United States, Latin America, Europe and China. Quarterly profit rose as a result of the higher sales, favorable product mix and continued improvements in the profitability of the Group’s European operations.

     The Color Group’s revenue increased 5.6% to $95.6 million for the quarter ended June 30, 2007, compared to $90.5 million in last year’s second quarter. Operating income for the quarter was $17.2 million, up 8.5% from $15.8 million reported in the second quarter of 2006. Year-to-date revenue increased 6.6% to $191.6 million and operating income was up 8.6% to $34.4 million. Quarterly revenue for the Color Group reflected solid growth within the food and beverage and cosmetic product lines. Foreign currency translation increased quarterly revenue by approximately 3.5%. Higher sales and improved product mix contributed to the increase in Color Group profits for the second quarter.

2007 OUTLOOK

     Sensient has increased its reported 2007 diluted earnings per share guidance to between $1.56 and $1.59. The previous range was between $1.54 and $1.56.

CONFERENCE CALL

     The company will host a conference call to discuss its 2007 second quarter financial results at 9:00 a.m. CDT on Monday, July 16, 2007. To make a reservation for the

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Sensient Technologies Corporation	Page 3
Earnings Release — Second quarter ended June 30, 2007
July 16, 2007

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 16, 2007, through midnight on July 23, 2007, by calling (706) 645-9291 and referring to passcode 6348136. A transcript of the call will also be posted on the company’s web site at www.sensient-tech.com after the call concludes.

     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, 2006, and quarterly report on Form 10-Q for the quarter ended March 31, 2007. 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

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

Consolidated Statements of Earnings

	Three Months Ended June 30,						Six Months Ended June 30,
	2007		2006		% Change		2007		2006		% Change
Revenue	$	304,310	$	282,212		7.8	$	589,578	$	545,136		8.2
Cost of products sold		209,834		196,711		6.7		408,954		380,196		7.6
Selling and administrative expenses		54,485		50,373		8.2		106,421		99,037		7.5
Operating income		39,991		35,128		13.8		74,203		65,903		12.6
Interest expense		9,470		8,980				18,722		17,688
Earnings before income taxes		30,521		26,148		16.7		55,481		48,215		15.1
Income taxes		9,288		7,685				16,902		14,134
Net earnings	$	21,233	$	18,463		15.0	$	38,579	$	34,081		13.2
Earnings per common share:
Basic	$	0.46	$	0.40		15.0	$	0.83	$	0.74		12.2
Diluted	$	0.45	$	0.40		12.5	$	0.82	$	0.74		10.8
Average common shares outstanding:
Basic		46,655		45,853		1.7		46,529		45,829		1.5
Diluted		47,149		46,114		2.2		47,029		46,043		2.1

Results by Segment	Three Months Ended June 30,								Six Months Ended June 30,
Revenue	2007			2006			% Change		2007			2006			% Change
Flavors & Fragrances	$	202,892		$	188,299			7.7	$	387,166		$	358,813			7.9
Color		95,553			90,526			5.6		191,583			179,682			6.6
Corporate & Other		13,150			10,222			28.6		25,214			20,226			24.7
Intersegment elimination		(7,285	)		(6,835	)		6.6		(14,385	)		(13,585	)		5.9
Consolidated	$	304,310		$	282,212			7.8	$	589,578		$	545,136			8.2
Operating Income
Flavors & Fragrances	$	31,187		$	27,120			15.0	$	57,361		$	50,013			14.7
Color		17,185			15,836			8.5		34,417			31,681			8.6
Corporate & Other		(8,381	)		(7,828	)		7.1		(17,575	)		(15,791	)		11.3
Consolidated	$	39,991		$	35,128			13.8	$	74,203		$	65,903			12.6

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

Consolidated Condensed Balance Sheets
June 30,	2007		2006
Current assets	$	568,930	$	532,702
Goodwill and intangibles (net)		470,191		448,580
Property, plant and equipment (net)		390,946		379,348
Other assets		47,360		59,139
Total Assets	$	1,477,427	$	1,419,769
Current liabilities	$	224,544	$	272,456
Long-term debt		438,515		433,854
Accrued employee and retiree benefits		46,326		44,920
Other liabilities		17,176		8,317
Shareholders’ equity		750,866		660,222
Total Liabilities and Shareholders’ Equity	$	1,477,427	$	1,419,769

Consolidated Statements of Cash Flows
Three Months Ended June 30,	2007			2006
Net cash provided by operating activities	$	43,722		$	22,853
Cash flows from investing activities:
Acquisition of property, plant and equipment		(8,802	)		(13,422	)
Proceeds from sale of assets		2			3,086
Decrease in other assets		210			562
Net cash used in investing activities		(8,590	)		(9,774	)
Cash flows from financing activities:
Proceeds from additional borrowings		512			776
Debt payments		(33,132	)		(7,289	)
Dividends paid		(7,522	)		(6,953	)
Proceeds from options exercised and other		5,471			2,868
Net cash used in financing activities		(34,671	)		(10,598	)
Effect of exchange rate changes on cash and cash equivalents		532			(294	)
Net increase in cash and cash equivalents		993			2,187
Cash and cash equivalents at beginning of period		4,927			2,852
Cash and cash equivalents at end of period	$	5,920		$	5,039

Supplemental Information
Three Months Ended June 30,	2007		2006
Depreciation and amortization	$	11,015	$	10,877
Dividends per share	$	0.16	$	0.15

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