Good and bad financial news from Air Products

Author: , (follow: @69news), news@wfmz.com
Published: Oct 29 2013 07:52:35 PM EDT

Lehigh Valley-based Air Products is crunching the numbers as the fiscal year draws to a close.

The gas-maker is reporting a 2% gain in annual net income on an adjusted basis.

But, according to GAAP standards, the company actually saw a 13% decline in net income.

GAAP stands for Generally Accepted Accounting Principles. That's the standard all companies must utilize in their financial statements.

But some companies like Air Products also report an alternate number they say more accurately reflects the nature of their business.

So it's good news - bad news from Air Products, depending on on the accounting method used.