Air Products has reported encouraging fiscal results for Q1 of 2011. McGlade, company Chairman, President and CEO described it as, 'a very good start'.
The results for the first quarter, ended 31st December 2010, represent an overall increase on the same period in 2009. Net income reached $296m, while diluted earnings per share (EPS) increased 16% to $1.35.
First quarter revenues increased 10% on 2009, driven by higher sales across all segments, reaching $2.392m. Air Products also attributes the rise to volume growth across Electronics and Performance Materials, Tonnage Gases and Merchant Gases segments. Meanwhile, sales rose 2% sequentially and operating income increased by 17% to $404m.
John McGlade, Chairman, President and CEO for the firm, stated, “We’re off to a very good start for our new fiscal year. In the quarter, we produced double-digit volume growth and improved margins in returns. The Air Products team continues to deliver on its commitments.”
... to continue reading you must be subscribed
