Specialty chemical company Air Products and Chemicals Inc. (APD) announced that it will participate in 2012 Mid-Atlantic Bio conference in Bethesda, Maryland, scheduled to be held on September 27 and September 28. The company intends to display its medical and industrial grade gases for pharmaceutical, biotechnology and life science applications at the exhibition.
Air Products will feature gases that are very effective in reducing customer costs and enhancing product quality and safety. The company will feature some of the gas supply products, such as CryoEase Microbulk Solutions. These products are cost effective and are useful for people, who use small volumes of gas.
The company’s TELALERT Telemetry Technology, which can use solar cellular or hard wired telemetry to continuously monitor the level of liquid gas in storage in a customer's tank, while helping to ensure on-time delivery, will also be featured. In addition, Air Products will also feature PRISM Technology for onsite gas production.
The representative of Air Products will also provide knowledge on Liquid nitrogen for storage and cryopreservation; Liquid and gaseous nitrogen for lyophilization; Nitrogen and argon inerting atmospheres; Carbon dioxide for cell culture; Oxygen for fermentation; and Nitrogen, hydrogen, and helium for analytical instrumentation.
Air Products is the world’s leading supplier of hydrogen for processing cleaner burning transportation fuels and hydrogen infrastructure and fueling technology. The company also holds a leadership position in liquefied natural gas technology and equipments.
In July 2012, the company released its results for the third quarter of 2012 ended on June 30, 2012. The company reported adjusted (excluding one-time items) earnings from continued operations of $1.41 a share for the quarter, in line with the Zacks Consensus Estimate.
Consolidated net income, surged 48% year over year to $484.5 million or $2.26 a share compared with $326.5 million or $1.50 a year ago. The increase in profits was attributable to lower costs and one-time gains, which more than offset the impact of lower sales.
Revenues dipped 5% year over year to $2,340.1 million, missing the Zacks Consensus Estimate of $2,455 million. Challenging conditions in Europe and Asia as well as unfavorable currency (stemming from a stronger dollar) weighed on the company’s top line in the quarter.
Air Products’ healthy project backlog and solid bidding activity strongly positions it to achieve its long-term growth target. Given its leading position in the gases business, the company is well positioned to capitalize on the cyclical recovery in its core industrial end markets. Further, new business deals are expected to boost profits in 2012. However, soaring energy and raw material costs are likely to hamper margins.
Air Products, which competes with Praxair Inc. (PX), has a short-term Zacks #3 Rank (Hold). Currently, we have a long-term Neutral recommendation on its shares.
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