Air Products & Chemicals Inc. reported a 53% decline in earnings for its fiscal fourth quarter, citing a weaker economy. The American producer and seller of chemicals and industrial gases, based in Le…
Air Products & Chemicals Inc. reported a 53% decline in earnings for its fiscal fourth quarter, citing a weaker economy. The American producer and seller of chemicals and industrial gases, based in Lehigh Valley, Pennsylvania, posted net income of US$ 103.1 million, or 47 cents a share, compared with US$ 218.5 million, or US$ 1.01 per share, a year ago. The period ended 30 September included after-tax charges of US$ 47.3 million related to cost reductions, another US$ 47.3 million for early debt repayment and US$ 64.6 million special gain for asset sales. Sales slipped 6% to US$ 1.36 billion from US$ 1.45 billion.