Air Products says 4th quarter-to-date sales drop 26 percent

Discussion in 'Stocks' started by ByLoSellHi, Sep 22, 2009.

  1. http://finance.yahoo.com/news/Air-P...set=521478c0828cd82c9361a26af813229f&ccode=rd

    Air Products quarter-to-date sales down 26 pct

    Air Products says 4th quarter-to-date sales drop 26 percent

    * On Monday September 21, 2009, 3:12 pm EDT

    NEW YORK (AP) --
    Air Products & Chemicals Inc., which supplies oxygen and other gases to the industrial and medical sectors, on Monday said consolidated sales for the current quarter-to-date fell 26 percent compared with the same period last year.

    The company attributed this drop in July and August sales to declining demand in most end markets, unfavorable currency and price weakness.

    Air Products' tonnage gases segment was hurt the most, with sales tumbling 40 percent, driven mainly to pricing pressure. The electronics and performance materials segment saw sales decrease 22 percent across all regions due to lower industry utilization and capital spending.

    Merchant gases sales slid 17 percent on lower volumes across all regions and unfavorable currency.

    Shares of Air Products shed 56 cents to $79.66 in afternoon trading.