Ingredion Q4 Profit Down, Results Miss Estimates
date:Feb 08, 2014
ily due to the impact of lower volumes on fixed cost absorption.

For the full year 2013, ales fell 3 percent as positive price/mix was more than offset by negative volume and slight currency headwinds. Operating income was down 2 percent, or $7 million, from a record $408 million to $401 million as favorable price/mix, continued focus on cost savings initiatives from manufacturing efficiencies, and the ability to hold dollar margins helped offset volume weakness.

In South America, sales were d
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