Markets
U.S. close in 6 hrs, 28 mins
BUSINESS NEWS
- Market News
- Earnings
- Recalls
- Recession Watch
- Tech News
- Financial Crisis
- Madoff Scandal
- BloggingStocks
- Luxist
- Money Videos
INVESTING
- Stock Quotes
- Stock Charts
- Stock Ticker
- Currencies
- Portfolio
- Stock Screener
- Broker Center
- Mutual Fund Center
- ETF Center
- Money
- 24/7 Wall St.
- Financial Glossary
PERSONAL FINANCE AT WALLETPOP
- Bargains
- Banking
- Budget
- Calculators
- College Finance
- Community
- Credit
- Deals
- Debt
- Economizer
- Food
- Home
- Fraud
- Insurance
- Interest Rates
- Loans
- Mortgages
- Real Estate
- Recalls
- Recession
- Retirement
- Saving
- Simplification
- Specials
- Taxes
SMALL BUSINESS
FMC Corp. says 3Q profit falls 65 percent
AP
PHILADELPHIA -Chemical company FMC Corp. said Wednesday its third-quarter profit fell 65 percent as the economic slump reduced demand for the company's products.
The Philadelphia-based company earned $28 million, or 38 cents per share, in the quarter that ended Sept. 30. That is down from the $80 million, or $1.05 per share, it earned a year earlier.
The company said restructuring and other one-time costs amounted to $37.3 million during the quarter.
Adjusted profit of 89 cents per share fell a penny short of the 90-cent-per-share prediction of analysts polled by Thomson Reuters.
Revenue fell 13 percent to $713.3 million from $820.8 million, also coming in below analysts $775.1 million average estimate.
The company narrowed its 2009 profit outlook to a range of $4.05 to $4.15 per share. Analysts expect $4.12 per share.
CEO William G. Walter said the economic downturn had hurt demand in parts of the business but he added, "We are confident that most impacts of the global recession are behind us."
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-28 23:48:38
COMMENTS ( 0 )
Latest Money News
CNNMoney
- Why isn't Bank of America updating its shareholders on CEO situation?
- Options Update: HSBC Holdings volatility low; uncertainty of Dubai exposure
- Before the bell: Futures sharply lower on Dubai's debt problems
- Holly Corp. (HOC): A 'potential double'
- Will Rich Ross really have a positive impact on Disney's movie operations?