By Stuart Radnedge2012-04-24T16:39:00+01:00
Air products announced a net income of $281m, or diluted earnings per share (EPS) of $1.31, for its fiscal second quarter ending 31st March 2012.
Second quarter revenues of $2,344m decreased 2% versus the previous year, primarily on lower energy pass-through and a stronger dollar.
Commenting on the quarter, John McGlade, Chairman, President and CEO, said, “Overall, second quarter volumes were below our expectations, as business activity did not pick up as much as we expected. With Europe in recession, we have taken actions to improve our business portfolio and cost positions.”
“While our volumes were held down by lower demand, we did see positive impact from our pricing efforts and new plants” said
John McGlade, Chairman, President and CEO Air Products
Underlying sales were up 2% on higher Tonnage Gases volumes and improved pricing in Merchant Gases.
Looking ahead, McGlade added, “We are entering the second half of the year at lower levels of business activity than originally anticipated, reducing growth in both sales and earnings for fiscal 2012. We still expect both to pick up during the second half of 2012 and into 2013. Our capital spending for this year is anticipated to come in at the high end of our range at approximately $2.2b.”
McGlade forecast, “We expect to sign a record amount of new business this year and to continue to deliver gains in productivity that will contribute to strong, profitable growth.”
MOCON, Inc. has released the MultiCheck® 425 - a testing system for packages with one-way degassing valves. The device also measures leak detection, seal strength and valve performance.
French industrial gas company, Air Liquide, strengthened its commitment to the Paris-Saclay scientific centre when it took part in the École Polytechnique inauguration of the ‘Innovation Management’ Chair second phase.
Houston, Texas, based Thigpen Energy has selected Chart for the provision of LNG fueling equipment and supplies – with construction already underway. Earlier this week it was announced that the company’s eastern European outfit, Chart Ferox, was chosen to construct LNG filling station in Poland.
Month on month, the gasworld website is the market-leading news portal for the global industrial gas sector, growing at an unprecedented rate and keeping its readers at the forefront of breaking news, insightful analysis and must-see features across the industry. Launched in 2004 and continually evolving, it is the only independent online news, views and intelligence portal for the global industrial gas community and the larger end-user markets – and home to the ever-increasing range of gasworld platforms.
To find out more about gasworld's advertising opportunities click here.