WASHINGTON (dpa-AFX) - Air Products (APD) reported a decline in its first-quarter net income attributable to the company to $248.1 million or $1.16 per share from $268.6 million or $1.23 per share last year. On a non-GAAP basis, net earnings were $292 million, or $1.36 per share compared with prior year's $296 million or $1.35 per share. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $1.36 for the quarter. Analysts' estimates typically exclude one-time items. Sales for the latest quarter totaled $2.42 billion compared with $2.39 billion in the comparable period a year ago, up 1% on higher prices in Merchant Gases and Performance Materials, while 13 analysts estimated revenues of $2.53 billion for the quarter. The company added that the higher volumes from new plants in Tonnage Gases were offset by lower Equipment sales and lower volumes in Performance Materials and Merchant Gases. For fiscal 2012, Air Products maintained its guidance of $5.90 to $6.30 per share, while expecting second quarter earnings per share between $1.37 and $1.43. Analysts project earnings per share of $6.01 for the full year, and $1.48 for the second quarter.
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