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Air Products net income declines 1.6%
12:57 PM MDT | April 23, 2013 | Lindsay Frost
Air Products reports that net income decreased slightly year-on-year (YOY)—down 1.6%, to $290.4 million. Adjusted earnings per share of $1.37/share, up 5.4% YOY, were in line with analyst estimates, according to Thomson Reuters (New York). Sales of $2.48 billion increased 6% YOY, although underlying sales fell because of the previously announced decision to exit the polyurethane intermediates business, while acquisitions contributed 6% to sales. Lower tonnage gases volumes also contributed negatively to sales, the company says. "Good cost performance...
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