21 October 2011 12:47 [Source: ICIS news]
LONDON (ICIS)--Air Products’ fiscal fourth-quarter net income has increased by 31% year on year to $325m (€235m), driven by growth in emerging markets and a strong performance in tonnage gases, the company said on Friday.
Sales were also up by 11% – to $2.61bn – while underlying revenues increased by 6% from the same period last year.
Fourth-quarter operating income also rose by 6%, to $425m, the ?xml:namespace>
"This quarter's improvements were driven by growth in emerging markets and strong performance in our tonnage gases business,” said chairman, president and CEO John McGlade.
Full-year fiscal 2011 sales increased by 12% to $10.1bn, primarily driven by a 9% volume increase, while full-year operating income was up by 13%, to $1.67bn.
Air Products said initial guidance for fiscal full-year 2012 earnings per share was in the range of $5.90 to $6.30, a year-on-year growth of 3–10%.
McGlade added: “While the near-term economic outlook is for continued slow growth, and is clouded by global economic and policy uncertainties, we are well positioned, with a large backlog of projects backed by signed customer contracts.
“We are confident that the prospects for industrial gases and Air Products, in particular, remain bright. We remain committed to achieving our 2015 goals for growth, margin and – most importantly – return on capital.”
($1 = €0.73)
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