Air Products Reports Q1 EPS Up 16% on Volume Growth and Improved Margins; Raises 2008 Full Year EP...(costreduction actions; the success of im...),Health

Date:1/23/2008

cost reduction actions; the success of implementing cost reduction programs and achieving anticipated acquisition synergies; the timing, impact and other uncertainties of future acquisitions or divestitures; unanticipated contract terminations or customer cancellation or postponement of sales; significant fluctuations in interest rates and foreign currencies from that currently anticipated; the impact of new or changed tax and other legislation and regulations in jurisdictions in which Air Products and its affiliates operate; the impact of new or changed financial accounting standards; and the timing and rate at which tax credits can be utilized. The company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this presentation to reflect any change in the company's assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward- looking statements are based.

The presentation of non-GAAP measures is intended to enhance the usefulness of financial information by providing measures which the Company's management uses internally to evaluate the Company's baseline performance. Presented below is a reconciliation of reported GAAP results to non-GAAP measures.

CONSOLIDATED RESULTS Continuing Operations

Diluted EPS

Q2 YTD

2007 GAAP $4.50

Gain on contract settlement (.11)

Global cost reduction plan .04

Pension settlement .03

Donation/sale of cost investment (.09)

Tax audit settlements/adjustments (.17)

2007 Non-GAAP Measure
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SOURCE Air Products Copyright©2008 PR Newswire. All rights reserved

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