(RTTNews) - Wednesday, diversified chemical company FMC Corp. (FMC: News ) reported a decline in profit for the third quarter, reflecting a drop in revenues from chemicals segment. Per share earnings and revenues were lower than analysts' expectations. The company also tightened its full year per share earnings guidance and issued guidance for the fourth quarter.

The Philadelphia, Pennsylvania-based company's net income attributable to stockholders declined to $28.0 million or $0.38 per share from $80.0 million or $1.05 per share a year earlier. Net income includes restructuring and other income and charges after-tax of $37.3 million or $0.51 per share. Excluding one-time items, the company's net income declined to $65.3 million or $0.89 per share from $85.6 million or $1.13 per share for the same period last year.

Third quarter revenue was $713.3 million, down 13% from $820.8 million for the prior year quarter, impacted by a decline in industrial chemicals revenues.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.90 per share on revenues of $775.10 million for the quarter. Analysts' estimates typically exclude special items.

In the sequentially preceding second quarter, FMC's net income declined to $69.3 million or $0.94 per share from $84.4 million or $1.10 per share for the same quarter a year earlier. Excluding items, the company earned $1.10 per share, down 15% from $1.29 per share in the prior-year quarter and revenue for the quarter was $700.3 million, down 13% from $806.6 million in the prior year.
For the quarter under review, total costs and expenses dropped to $645.3 million from $701.7 million for the same period last year, helped by a decline in costs of sales and services to $510.0 million from $580.8 million for the year earlier period.

While, the company's industrial chemicals revenues dropped to $254.4 million from $359.6 million a year-ago, agricultural products revenues rose moderately to $268.3 million from $263.8 million last year. Revenues of the company's smallest segment, specialty chemicals, slipped to $191.7 million from $198.0 million for the same period a year earlier.

Commenting on the third quarter performance, William Walter, chairman, president and chief executive officer said,"Agricultural Products' results were driven by strong Latin American performance and lower raw material costs. Specialty Chemicals' earnings growth was the result of outstanding commercial performance in BioPolymer. Industrial Chemicals' results were impacted by lower volumes across its businesses and reduced selling prices in phosphates."

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