As the closing months of the year fast approach, Air Products has revealed a mixed bag of fourth quarter 2008 results impacted by both weaker demand in Electronics and lower volumes in Europe.
While the overall picture from 2008 appears as positive as ever, weaker demand in Electronics and softer-than-expected volumes in Europe impacted on the company’s fourth quarter results.
A suggested tighter control over discretionary spending and operating expenses throughout 2009 is perhaps indicative of the global economic predicament the world finds itself in, though Air Products remains resolute in its positive outlook for the year ahead.
Fourth quarter
The company reported net income of $262m, or diluted earnings per share (EPS) of $1.21, for its fiscal 2008 fourth quarter – compared with $293m and $1.31 for the fourth quarter of fiscal 2007.
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