FMC Corp 4th-quarter earnings rise

Wed Feb 6, 2008 9:03pm EST
 
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NEW YORK, Feb 6 (Reuters) - Insecticide and specialty chemical maker FMC Corp (FMC.N: Quote, Profile, Research, Stock Buzz) said on Wednesday that its fourth-quarter earnings rose, helped by strong demand across all its businesses.

Net income in the quarter was $40.9 million, or 53 cents a share, compared with a year-ago profit of $12.2 million, or 16 cents a share, which included restructuring charges.

Last month, Banc of America raised its rating on shares of FMC to "buy" from "neutral" and also pushed its price target on the company's shares to $60 from $50.

Excluding charges and other income, the company reported quarterly earnings of 59 cents per share.

Philadelphia-based FMC had forecast fourth-quarter earnings, excluding items, of 60 cents to 70 cents a share. (Reporting by Euan Rocha; Additional reporting by Ilaina Jonas; Editing by Gary Hill)

 

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