Optimism remains as downturn takes its toll


Air Products has released its fiscal 2009 first quarter earnings.

The company has reported net income of $69 million or diluted earnings per share (EPS) of $0.32 for its fiscal quarter ended December 31st 2008.

This includes a $0.55 per share charge for the previously announced global cost reduction plan and a $0.10 per share loss from discontinued operations.

Excluding the impact of these terms, income was $206 million and diluted EPS was $0.97, down 21% and 18%, respectively, compared with the previous year.

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