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Sensient Sends Fourth Letter to ShareholdersMILWAUKEE --(Business Wire)-- Sensient Technologies Corporation (NYSE: SXT) today sent a letter urging shareholders to support the Company's highly qualified nominees by voting on the WHITE proxy card. Additional information pertaining to Sensient's upcoming Annual Meeting is available at: www.sensient.com. Included below is the full text of the letter to Sensient shareholders: SUPPORT SENSIENT'S SUCCESSFUL STRATEGY TO DELIVER SHAREHOLDER VALUE PLEASE VOTE THE WHITE PROXY CARD TODAY April 15, 2014 Dear Fellow Sensient Shareholder: Yesterday, Sensient released strong first quarter 2014 earnings. As these results show, our Board and management's strategy continues to yield excellent results. With our Annual Meeting coming soon, we urge you to maintain the positive momentum by voting today on the WHITE proxy card FOR Sensient's highly qualified nominees. As you know, we are executing a comprehensive, thoughtfully developed plan in our Flavors & Fragrances Group to drive margins and even greater shareholder value by refining our mix of high-value-added products and enhancing our operating efficiency. Our first quarter results clearly demonstrate our progress in these efforts as well as continued success in our Color Group. FIRST QUARTER RESULTS DEMONSTRATE THAT OUR STRATEGY IS WORKING
ISS AGREES - FRONTFOUR'S ARGUMENTS REGARDING SENSIENT'S PERFORMANCE ARE UNFOUNDED In its April 10, 2014 report, Institutional Shareholder Services ("ISS") recognized Sensient's strong performance, stating: "The dissident critique of poor performance appears unfounded, and does not appear to account for the company's improving fundamentals since 2009." As ISS concluded, "[T]he dissidents, in centering their arguments on the need for strategic and operating changes, have not made a compelling case that those changes are necessary." OUR BOARD IS THE RIGHT BOARD
FRONTFOUR AND ITS NOMINEES ARE ILL-SUITED TO SERVE YOUR INTERESTS In contrast with our successful strategy and highly qualified Board, which are aligned with your interests, we believe FrontFour has offered:
YOUR VOTE IS IMPORTANT - VOTE THE WHITE PROXY CARD TODAY! We are committed to serving the interests of our shareholders. We have a strong Company, a proven strategy that continues to deliver impressive results and the right leaders to drive shareholder value for the long term. We urge you to vote your WHITE proxy card FOR the Company's directors today. Sincerely, The Board of Directors of Sensient Technologies Corporation
FORWARD-LOOKING STATEMENTS This document contains statements that may constitute "forward-looking statements" within the meaning of Federal securities laws. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors concerning the Company's operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company's future financial performance include the following: the pace and nature of new product introductions by the Company and the Company's customers; the Company's ability to successfully implement its strategy to create sustainable, long-term shareholder value; the Company's ability to successfully implement its growth strategies; the outcome of the Company's various productivity-improvement and cost-reduction efforts; changes in costs or availability of raw materials, including energy; industry and economic factors related to the Company's domestic and international business; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors, including increased intensity of competition; the loss of any customers in certain product lines in which our sales are made to a relatively small number of customers; product liability claims or product recalls; the costs of compliance, or failure to comply, with laws and regulations applicable to our industries and markets; changing consumer preferences and changing technologies; and failure to complete and integrate future acquisitions or dispositions. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition and results of operations. This document contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized. Additional information regarding these risks can be found in our Annual Report on Form 10-K for the year ended December 31, 2013. RECONCILIATION OF ADJUSTED EARNINGS PER SHARE The Company has provided earnings per diluted share for the first quarter of 2014 on an adjusted basis, which is a non-GAAP financial measure. The Company's adjusted earnings per diluted share of $0.71 for the first quarter of 2014 results from a GAAP loss of $.04 per diluted share and the addition of $0.75 per diluted share of restructuring and other charges related to, among other items, underperforming operations, consolidating manufacturing facilities and improving efficiencies within the Company. ADDITIONAL INFORMATION In connection with its 2014 Annual Meeting of Shareholders, Sensient has filed a proxy statement and other documents regarding the 2014 Annual Meeting of Shareholders with the Securities and Exchange Commission ("SEC (News - Alert)") and has mailed the definitive proxy statement and a proxy card to each shareholder of record entitled to vote at the 2014 Annual Meeting of Shareholders. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain the documents free of charge at the SEC's website, www.sec.gov, from Sensient at its website, www.sensient.com, or by writing to Sensient Technologies Corporation, 777 East Wisconsin Avenue, Milwaukee, WI 53202, Attention: Investor Relations. 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 and fine chemicals. The Company's customers include major international manufacturers representing most of the world's best-known brands. Sensient is headquartered in Milwaukee, Wisconsin. 1 Performance as of April 11, 2014; peers include IFF, Givaudan and Symrise
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