FMC Corp. (FMC) reported third-quarter net income attributable to stockholders of $28.0 million or $0.38 per share, compared to net income of $80.0 million or $1.05 per share, in the third quarter of 2008.
Net income in the current quarter included restructuring and other income and charges of $37.3 million after-tax, or charges of $0.51 per diluted share, versus restructuring and other income and charges of $5.6 million after-tax, or charges of $0.08 per diluted share, in the prior-year quarter.
Excluding these items in both periods, the company earned $0.89 per share in the current quarter, a decrease of 21 percent versus $1.13 per diluted share in the prior-year quarter.
Third quarter revenue of $713.3 million was 13% lower than $820.8 million in the prior year.
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.
For the fourth quarter of 2009, the company expects earnings before restructuring and other income and charges of $0.85 to $0.95 per share. Analysts expect the company to report earnings of $0.91 per share for the fourth quarter.
For the full year 2009, the company narrowed its outlook for earnings before restructuring and other income and charges to $4.05 to $4.15 per share, from the prior range of $4.00 - $4.20 per share. Analysts expect the company to report earnings of $4.12 per share for fiscal 2009.
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