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People & Business :: Earnings/Finance

Higher Volumes Lift Air Products' Earnings, But Operating Costs Dampen Gains

9:03 AM MDT | July 22, 2011 | Nancy Seewald

Air Products reported net income from continuing operations of $318 million in its fiscal third quarter ended June 30, up 15% from the same period last year. Reported earnings were $1.46/share, up 14% from the year-ago quarter and on par with analysts’ consensus as reported by Thomson Reuters (New York). Results exclude a 4 cts/share gain in discontinued operations related to a tax benefit from the sale of its U.S. healthcare business in 2009. Sales rose 14%, to $2.6 billion, on higher volumes, primarily in its electronics and performance materials, and...

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