FMC Corp. (FMC) reported results for the fourth quarter and full fiscal 2009. FMC’s quarterly income stood at $68.9 million or 94 cents per share, from $75.4 million or $1.02 in the prior-year quarter. However, this was above the Zacks Consensus Estimate of 90 cents per share. Net income during full year 2009 was $304.1 million or $4.15, compared to $351.1 million or $4.63 in 2008. Reported EPS was slightly above the Zacks Consensus Estimate of $4.11.
 
Quarterly revenues of $722.1 million were 2% lower than $737.7 million in the same period in fiscal 2008. During full year 2009, revenues amounted to $2,826.2 million, a decrease of 9%, compared to $3,115.3 million in the previous year.
 
During the fourth quarter, revenues in Agricultural Products were $269.5 million, which increased 12% versus the prior-year quarter. This was led by sales gains in Latin America, particularly in Brazil due to improved market conditions for several key crops and growth from new products. Revenues in Specialty Chemicals were $194.2 million, up 2% from the year-ago quarter. This was driven by strong commercial performance in BioPolymer, particularly in the food ingredients markets, as a result of higher volumes and selling prices. Revenues in Industrial Chemicals were $260.1 million, down 16% from the prior-year quarter driven by reduced phosphates selling prices and lower soda ash volumes. 
 
During the full year, revenues in Agricultural Products were $1,051.6 million, a decrease of 1% year over year as sales gains in the Americas and non-crop markets were offset by lower sales in Europe and Asia. Revenues in Specialty Chemicals were $753.1 million, 1% lower than the prior-year period, as strong commercial performance in BioPolymer was more than offset by lower lithium volumes and unfavorable currency translation.
 
Revenues in Industrial Chemicals were $1,026.7 million, a decrease of 21%, compared to 2008 as lower volumes across the segment and selling prices in phosphates more than offset higher selling prices in most other businesses.
 
FMC is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. For full year 2010, FMC expects earnings of $4.35 to $4.75 per share.
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