Sensient Technologies (SXT) 8-K Sensient Technologies Corporation Reports Record Third Quarter Revenue and Earnings

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

Contact:	Dick Hobbs
	(414) 347-3836

Sensient Technologies Corporation
Reports Record Third Quarter Revenue and Earnings

Quarterly EPS Increases 13.6%

Total Debt Down $25.5 Million in the Quarter

     MILWAUKEE—October 16, 2008—Sensient Technologies Corporation (NYSE: SXT) reported record third quarter revenue of $318.6 million, up 8.3% from the comparable period in 2007. Favorable foreign currency translation increased revenues in the quarter by approximately 2%. Diluted earnings per share rose 13.6% to a third quarter record of 50 cents, compared to 44 cents in last year’s third quarter.

     Revenue for the first nine months of this year was $958.8 million, up from $883.9 million in the prior year’s comparable period. Diluted earnings per share for the nine months ended September 30, 2008, were $1.46 compared to $1.26 in last year’s first nine months.

     “Sensient has achieved eleven consecutive quarters of strong revenue and earnings growth,” said Kenneth P. Manning, Chairman and CEO of Sensient Technologies Corporation. “Our consistently strong results demonstrate that our strategies for organic growth are succeeding.”

BUSINESS REVIEW

     The Flavors & Fragrances Group reported record third quarter revenue and operating income. Revenue for the three months ended September 30, 2008, increased 7.0% to $206.5 million. Quarterly operating income was up 8.0% to $31.6 million compared to the third quarter of 2007. Year-to-date revenue increased to $616.1 million and operating income increased to $94.3 million. Group revenue in the quarter benefited from improved pricing

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Sensient Technologies Corporation
Earnings Release – Third quarter ended September 30, 2008
October 16, 2008 Page 2

and favorable foreign currency translation. Solid volume growth was achieved across several product lines in the U.S and Canada. Higher sales and favorable product mix in the quarter more than offset the impact of increased raw material and energy costs.

     The Color Group’s revenue increased 12.7% to a third quarter record of $102.7 million, compared to $91.1 million in last year’s third quarter. Operating income for the quarter was $17.7 million, up 12.6% from $15.8 million reported in the third quarter of 2007. Year-to-date revenue increased to $312.8 million and operating income increased to $55.5 million. Quarterly revenue for the Color Group reflects solid growth of food and beverage colors. Sales of pharmaceutical colors and technical colors were also strong in the quarter. Third quarter operating profit increased on solid volume growth and improved pricing, partially offset by higher raw material costs.

2008 OUTLOOK

     Sensient expects 2008 diluted earnings per share to be between $1.86 and $1.88. This guidance represents an increase over the previously provided range which was between $1.80 and $1.84.

CONFERENCE CALL

     The company will host a conference call to discuss its 2008 third quarter financial results at 10:00 a.m. CDT on Friday, October 17, 2008. 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 October 17, 2008, through midnight on October 24, 2008, by calling (706) 645-9291 and referring to passcode 67016195. A transcript of the call will also be posted on the company’s web site atwww.sensient-tech.com after the call concludes.

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Sensient Technologies Corporation
Earnings Release – Third quarter ended September 30, 2008
October 16, 2008 Page 3

     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, 2007, and quarterly report on Form 10-Q for the quarter ended June 30, 2008. 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 and colors, 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

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

Consolidated Statements of Earnings

	Three Months Ended September 30,						Nine Months Ended September 30,
	2008		2007		% Change		2008		2007		% Change
Revenue	$	318,601	$	294,311		8.3	$	958,815	$	883,889		8.5
Cost of products sold		222,705		205,326		8.5		665,555		614,280		8.3
Selling and administrative expenses		55,041		50,856		8.2		167,919		157,277		6.8
Operating income		40,855		38,129		7.1		125,341		112,332		11.6
Interest expense		7,977		8,640				25,035		27,362
Earnings before income taxes		32,878		29,489		11.5		100,306		84,970		18.0
Income taxes		8,776		8,706				30,067		25,608
Net earnings	$	24,102	$	20,783		16.0	$	70,239	$	59,362		18.3
Earnings per common share:
Basic	$	0.50	$	0.44		13.6	$	1.48	$	1.27		16.5
Diluted	$	0.50	$	0.44		13.6	$	1.46	$	1.26		15.9
Average common shares outstanding:
Basic		47,792		46,818		2.1		47,554		46,627		2.0
Diluted		48,320		47,306		2.1		48,098		47,123		2.1

Results by Segment

	Three Months Ended September 30,								Nine Months Ended September 30,
	2008			2007			% Change		2008			2007			% Change
Revenue
Flavors & Fragrances	$	206,468		$	192,987			7.0	$	616,093		$	572,344			7.6
Color		102,659			91,085			12.7		312,771			283,095			10.5
Corporate & Other*		19,314			17,152			12.6		58,168			50,697			14.7
Intersegment elimination		(9,840	)		(6,913	)		42.3		(28,217	)		(22,247	)		26.8
Consolidated	$	318,601		$	294,311			8.3	$	958,815		$	883,889			8.5
Operating Income
Flavors & Fragrances	$	31,565		$	29,232			8.0	$	94,304		$	85,010			10.9
Color		17,738			15,752			12.6		55,531			50,022			11.0
Corporate & Other*		(8,448	)		(6,855	)		23.2		(24,494	)		(22,700	)		7.9
Consolidated	$	40,855		$	38,129			7.1	$	125,341		$	112,332			11.6

* Corporate & Other contains the Company’s Asia Pacific and China operations as well as certain unallocated corporate expenses. Prior to the first quarter of 2008, the results of the Company’s business in China were reported as part of the Flavors & Fragrances Group. Results for 2007 have been restated to reflect this change.

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

Consolidated Condensed Balance Sheets
September 30,

	2008		2007
Current assets	$	669,515	$	589,273
Goodwill and intangibles (net)		485,286		483,801
Property, plant and equipment (net)		416,839		400,379
Other assets		42,607		45,410
Total Assets	$	1,614,247	$	1,518,863
Current liabilities	$	224,724	$	219,097
Long-term debt		450,437		445,180
Accrued employee and retiree benefits		45,275		46,948
Other liabilities		28,934		18,851
Shareholders’ equity		864,877		788,787
Total Liabilities and Shareholders’ Equity	$	1,614,247	$	1,518,863

Consolidated Statements of Cash Flows
Nine Months Ended September 30,

	2008			2007
Net cash provided by operating activities	$	66,288		$	80,660
Cash flows from investing activities:
Acquisition of property, plant and equipment		(34,384	)		(25,499	)
Proceeds from sale of assets		1,946			2,114
Other investing activity		1,293			(176	)
Net cash used in investing activities		(31,145	)		(23,561	)
Cash flows from financing activities:
Proceeds from additional borrowings		40,330			38,977
Debt payments		(65,420	)		(83,110	)
Dividends paid		(26,412	)		(23,484	)
Proceeds from options exercised and other		15,959			12,024
Net cash used in financing activities		(35,543	)		(55,593	)
Effect of exchange rate changes on cash and cash equivalents		(23	)		478
Net (decrease) increase in cash and cash equivalents		(423	)		1,984
Cash and cash equivalents at beginning of period		10,522			5,035
Cash and cash equivalents at end of period	$	10,099		$	7,019

Supplemental Information
Nine Months Ended September 30,

	2008		2007
Depreciation and amortization	$	33,828	$	33,154
Dividends per share	$	0.55	$	0.50