The company, based in New York, makes flavors and fragrances for an array of consumer products.
Net income fell to $24.4 million, or 30 cents per share, for the quarter that ended Dec. 31. That's compared with $55.6 million, or 68 cents per share, in the same quarter last year.
International Flavors & Fragrances had a patent litigation settlement, restructured its business and changed its European operations, heavily skewing the period's results. After excluding the special items, the company earned 74 cents per share for the quarter versus 69 cents per share last year.
Revenue rose 2 percent to $644.4 million as with gains in both flavor and fragrances on higher prices.
Analysts on average anticipated the company would earn adjusted profit of 73 cents per share on revenue of $653.4 million, according to FactSet.
The company earned $266.9 million, or $3.26 per share, for the year. That's up slightly from $263.6 million, which also amounted to $3.26 per share, last year. Annual revenue increased 6 percent to $2.79 billion.
Shares of the company rose 90 cents to $57.15 by late afternoon.
