Air Products fiscal Q1 net income up 3% to $277m, sales rise 10%

23 January 2013 11:55  [Source: ICIS news]

LONDON (ICIS)--Air Products’ fiscal first-quarter net income from continuing operations increased by 3% year on year to $277m (€208m), the US-based industrial gases major said on Wednesday.

Sales of $2.6bn for the quarter ended 31 December 2012 were 10% higher than the same period in the previous year, while operating income was 5% higher at $372m.

Diluted earnings per share during the period rose by 3% year on year to $1.30.

“Globally, economic growth underperformed our expectations for the quarter,” said John McGlade, chairman, president and CEO.

He said the company had delivered higher volumes in Tonnage Gases, and Equipment and Energy, but both Merchant Gases and Electronics volumes declined.

“Our operating performance was encouraging and we are seeing improvements from our cost and restructuring actions. It's a positive start that we expect to improve upon through the year,” McGlade added.

($1 = €0.75)

By: Graeme Paterson
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly