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Air Products Q2 Profit Down - Quick Facts

4/24/2012 6:21 AM ET

Air Products & Chemicals Inc. (APD: Quote) reported that its second-quarter net income attributable to the company decreased to $296.0 million or $1.38 per share, from $304.3 million or $1.39 per share in the same quarter last year.

The company reported net income of $281 million and earnings per share of $1.31 on a non-GAAP, continuing operations basis, for its fiscal second quarter ended March 31, 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $1.33 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter declined to $2.34 billion from $2.40 billion in the prior year quarter. Eleven analysts had consensus revenue estimate of $2.43 billion for the quarter.

Air Products expects third quarter adjusted earnings from continuing operations to be between $1.40 and $1.45 per share. Analysts expect the company to report earnings of $1.51 per share for the third-quarter.

For fiscal 2012, the company now expects GAAP earnings per share to be in the range of $5.26 to $5.39, and adjusted earnings from continuing operations of $5.47 to $5.60 per share. Analysts expect the company to report earnings of $5.75 per share for fiscal 2012.

While announcing the first-quarter results, the company expected earnings to be in the range of $5.90 to $6.30 per share.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Starbucks Corp. said Thursday after the markets closed that its second quarter profit rose 9.4% from last year, helped by higher revenue. The company's quarterly earnings per share came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. The world's largest specialty coffee retailer also raised its full year earnings outlook. Software giant Microsoft Corp. said Thursday after the markets closed that its third quarter profit fell 6.6% from last year, when results were boosted by special upgrade offer revenues. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter.
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