Apr. 23--Trexlertown gasmaker Air Products reported second-quarter earnings that beat analyst expectations Wednesday, giving its stock a boost.

But the company cut its earnings forecast for the remainder of the year, citing weak business conditions.

Air Products, the world's leading hydrogen producer, reported profits of $189 million, or 89 cents per share, for the quarter ending March 31. That's a decrease of 31 percent compared with the same quarter a year ago, but beat analyst expectations by 7 cents a share.

Air Products says a worldwide slowdown in manufacturing has decreased demand for its products. The company, which supplies gases used in industrial and medical sectors, operates in more than 40 countries.

"The unprecedented deterioration in global manufacturing continued into our second quarter, as producers extended their holiday shutdowns," Chief Executive Officer John McGlade said. "As expected, we saw weaker volumes, contributing to what we said would be our low point for our fiscal year. However, we were able to partially offset these declines with benefits from our cost and productivity actions."

The company said it expects to post a profit of $3.85 to $4.05 per share for the year, down from its previous prediction of between $4 and $4.30 per share. Analysts polled by Thomson Reuters expect a profit of $4 per share.

Air Products' stock closed at $61.19 Wednesday on the New York Stock Exchange, up about 5.4 percent for the day.

Air Products is the Lehigh Valley's third-largest employer, with more than 4,100 workers in Lehigh and Northampton counties at the end of 2008. The company has 21,000 employees around the world. In December, it announced it would cut 1,300 jobs throughout the company in the first half of this year.

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