Air Products in good position


Figures are still down in comparison to last year’s Q4 results, but CEO of Air Products, John McGlade is confident about the position the company is now in.

Air Products reported income from continuing operations of $246m, or diluted earnings per share (EPS) of $1.14, for its fiscal 2009 fourth quarter, compared to $273m and $1.26 respectively for the fourth quarter of fiscal 2008.

Fourth quarter revenues of $2,129m declined 22% versus the previous year. Lower energy and raw material cost pass-throughs, and unfavorable currency, impacted sales by 12% and 3% respectively.

Underlying sales declined 7% on lower volumes in the Merchant Gases and Electronic and Performance Materials segments, and lower pricing in Electronics and Performance Materials.

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