WASHINGTON (dpa-AFX) - FMC Corp. (FMC) reported first-quarter net income attributable to stockholders of $119.1 million, or $1.71 per share, versus net income of $94.0 million, or $1.30 per share, in the first quarter of 2011.
Net income in the latest quarter included charges of $16.3 million after tax, or $0.23 per share, versus charges of $13.6 million after tax, or $0.19 per share, in the prior-year quarter.
Excluding these items in both periods, adjusted earnings were $1.94 per share, an increase of 30 percent versus $1.49 per share in the prior-year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $1.86 per share for the quarter. Analysts' estimates typically exclude special items.
First quarter revenue was $940.7 million, up 18 percent from $795.0 million in the prior year. Seven analysts had consensus revenue estimate of $792.68 million for the quarter.
For the second quarter of 2012, the company expects adjusted earnings of $1.65 to $1.85 per diluted share, a 14 percent increase at the midpoint of this range. Analysts expect the company to report earnings of $1.79 per share for the second-quarter.
For the full year 2012, the company raised the midpoint of its previous outlook and now expect adjusted earnings of $6.80 to $7.05 per share, a 16 percent increase above last year at the midpoint of this range. Analysts expect the company to report earnings of $6.93 per share for fiscal 2012. Previously, the company expected adjusted earnings of $6.70 to $7.05 per share, a 15 percent increase above last year at the midpoint of this range.
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