Air Products today reported net income of $204m or diluted earnings per share (EPS) of $.89 for its second fiscal quarter ended 31 March 2006.
Net income increased 16 per cent and diluted EPS was up 19 per cent compared with the prior year.
Second quarter earnings comparisons are affected by the adoption of Statement of Financial Accounting Standards No. 123R and expensing of stock options as of 1 October 2005. On a comparable basis (including stock compensation expenses), net income increased 21 per cent and diluted EPS increased 24 percent.
Revenues of $2,317m were up 16 per cent over the prior year on strong volume growth in gases and equipment. Operating income of $295m was up 22 per cent from the prior year, primarily on improved results in all segments driven by strong sales in gases and equipment and improved pricing in chemicals.
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