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Praxair Narrows Full-year Earnings Outlook

The Associated Press

DANBURY, Conn. (AP) — Industrial gas maker Praxair Inc. on Wednesday narrowed its full-year earnings guidance and cut its sales forecast, citing weaker demand in the difficult economy.

The company said it now expects a 2009 profit between $3.85 and $4.15 per share. It expects sales of about $9 billion.

Previously, the company forecast a profit of $3.80 per share to $4.20 per share and sales of $9.5 billion to $10 billion.

Analysts surveyed by Thomson Reuters call for a full-year profit of $3.99 per share on $10 billion in sales, on average.

Praxair also offered an earnings outlook for the second quarter of between 95 cents per share and $1 per share. Wall Street calls for $1 per share.

The Danbury, Conn., company did not issue a second-quarter revenue guidance.

Praxair also posted a decline in its first-quarter profit on Wednesday. Shares closed Tuesday at $71.47.