Air Products has reported GAAP net income from continuing operations of $252m, down 10% compared to the previous year, and diluted earnings per share (EPS) from continuing operations of $1.15, down 11% versus the prior year, for its fiscal Q1 ended 31st December 2016.
For the quarter, on a non-GAAP basis, adjusted net income from continuing operations of $322m was up 10% versus prior year, and adjusted diluted earnings per share from continuing operations of $1.47 was up 9% versus the previous year.
On a GAAP basis, the effective tax rate in the quarter was 23.3%. The adjusted effective tax rate in the quarter was 21.2%, lower than it has been recently due to the MT separation, new accounting for share-based compensation, and one-time adjustments.
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