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Air Products Announces Expected Financial Impact Of Recent Hurricanes
Air Products has announced that it anticipates that the impact of Hurricanes Katrina and Rita to its business operations will result in an unfavorable fiscal fourth quarter drop in the range of $.05 to $.07 per share. The losses are attributable to property damage and business operation in both Air Products' gases and chemicals businesses. In accordance with the company's accounting policies, these impacts only reflect expected insurance recovery for certain property damage costs and do not reflect any expected insurance recovery for business interruption. Air Products will release its fiscal fourth quarter earnings and fiscal 2006 guidance on Wed., Oct. 26, 2005. Results will be reviewed later that day during a teleconference at 11:00 a.m. EDT. The teleconference will be open to the public and the media in listen-only mode by telephone and Internet broadcast.