Form 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
Date of Report (Date of earliest event reported): March 15, 2011
INTERNATIONAL FLAVORS & FRAGRANCES INC.
(Exact name of registrant as specified in its charter)
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| New York |
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1-4858 |
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13-1432060 |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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521 West 57th Street
New York, New York
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10019 |
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(Zip Code) |
Registrant’s telephone number, including area code: (212) 765-5500
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| (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))
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Item 7.01. Regulation FD Disclosure.
On March 15, 2011, International Flavors & Fragrances Inc. issued the press release being furnished as Exhibit
99.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
The information in this report, including the exhibits hereto, (i) shall not be deemed to be “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that
section and (ii) shall not be incorporated by reference into any filing of the Company with the Securities and Exchange
Commission, whether made before or after the date hereof, regardless of any general incorporation language in such
filings (unless the Company specifically states that the information or exhibits in this particular report are
incorporated by reference).
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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99.1. |
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Press Release of International Flavors & Fragrances Inc., dated March 15, 2011 |
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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.
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| March 15, 2011 |
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INTERNATIONAL FLAVORS & FRAGRANCES INC. |
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(registrant) |
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By:
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/s/ Kevin C. Berryman |
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Kevin C. Berryman |
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Executive Vice President and Chief Financial Officer |
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Exhibit Index
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| Exhibit Number |
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Description |
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99.1 |
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Press Release of International Flavors & Fragrances Inc., dated March 15, 2011 |
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Exhibit 99.1
Exhibit 99.1
FOR IMMEDIATE RELEASE
IFF to Share Strategic & Business Outlook at Investor Meeting
NEW YORK, N.Y., March 15, 2011 — International Flavors & Fragrances Inc. (NYSE: IFF), a leading
global creator of flavors and fragrances for consumer products, announced that the Company’s
senior executives will offer their perspective on IFF’s long-term business strategy and financial
objectives at an investor meeting today in New York City.
IFF expects to achieve long-term financial goals of four to six percent local currency sales
growth, seven to nine percent operating profit growth and 10-plus percent earnings per share
(EPS) growth.
Management will also comment that the first quarter of 2011 has started strong. EPS is expected
to grow in excess of 10 percent as the combination of strong sales growth and continued cost
discipline is expected to drive results. For the full year of 2011, the Company is expected to
reiterate its belief that operating profit margin should approach their previous long-term
stated goal of 18 percent.
“Following a very strong financial performance in 2010, we look forward to sharing with our
investors the strategies we have in place to capture future growth opportunities,” said Chairman
and CEO Doug Tough. “Our strategy in 2011 and beyond will focus on improving both growth and
profitability as we leverage our emerging market position, strengthen our innovation platform and
maximize our portfolio. As such, we believe that we have the right plans in place to continue to
win in the marketplace and deliver long-term value to our shareholders.”
The live webcast of today’s meeting and accompanying presentation materials, as well as the U.S.
Generally Accepted Accounting Principles (U.S. GAAP) reconciliation, can be accessed by visiting
the Investor Relations section of www.iff.com. The meeting will begin at 8:00 a.m. EDT, and will
also be archived on the site for later viewing.
About IFF
International Flavors & Fragrances Inc. (NYSE: IFF) is a leading global creator of flavors and
fragrances used in a wide variety of consumer products and packaged goods. Consumers experience
these unique scents and tastes in fine fragrances and beauty care, detergents and household goods,
as well as beverages, confectionery and food products. The Company leverages its competitive
advantages of brand understanding and consumer insight, combined with its focus on R&D and
innovation, to provide customers with differentiated product offerings. A member of the S&P 500 Index, IFF has sales, manufacturing and creative facilities in
33 countries worldwide. For more information, please visit our website at www.iff.com.
Cautionary Statement Under The Private Securities Litigation Reform Act of 1995
Statements in this release, which are not historical facts or information, are “forward looking
statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on management’s current assumptions, estimates and
expectations. Certain of such forward-looking information may be identified by such terms as
“expect”, “anticipate”, “believe”, “outlook”, “guidance”, “may”, “on track” and similar terms or
variations thereof. All information concerning future revenues, tax rates or benefits, interest
and other savings, earnings and other future financial results or financial position such as our
ability to satisfy our cash requirements, constitutes forward-looking information. Such
forward-looking statements involve significant risks, uncertainties and other factors. Actual
results of the Company may differ materially from any future results expressed or implied by such
forward-looking statements. Such factors include, among others the following: general economic and
business conditions in the Company’s markets, including economic and recessionary pressures;
energy and commodity prices; decline in consumer confidence and spending; the impact of currency
fluctuation or devaluation in the Company’s principal foreign markets and the impact on the
availability, effectiveness and cost of the Company’s hedging and risk management strategies;
political uncertainties; fluctuating interest rates; volatility of the capital and credit markets
and any adverse impact on our cost of and access to capital and credit; fluctuations in the price,
quality and availability of raw materials; the Company’s ability to implement its business
strategy, including the achievement of anticipated cost savings, profitability, growth and
financial targets; the outcome of uncertainties related to litigation; the impact of possible
pension funding obligations and increased pension expense on the Company’s cash flow and results
of operations; and the effect of legal and regulatory proceedings, as well as restrictions imposed
on the Company, its operations or its representatives by U.S. and foreign governments. The Company
intends its forward-looking statements to speak only as of the time of such statements and does
not undertake or plan to update or revise them as more information becomes available or to reflect
changes in expectations, assumptions or results.
Any public statements or disclosures by IFF following this release that modify or impact any of
the forward-looking statements contained in or accompanying this release will be deemed to modify
or supersede such outlook or other forward-looking statements in or accompanying this release.
Certain other factors which may impact our financial results or which may cause actual results to
differ from such forward-looking statements are also discussed in the Company’s periodic reports
filed with the Securities and Exchange Commission and available on the IFF website at www.iff.com
under “Investor Relations”. You are urged to carefully consider all such factors.
Investor Relations:
Michael DeVeau
212-708-7164
