Mine Safety Appliances 3Q Income Falls 4 Percent

PITTSBURGH (AP) â¿¿ Mine Safety Appliances Co. said Wednesday that its net income fell 4 percent in the third quarter after it sold off two businesses.

The company sells safety gear to mine operators, oil and gas companies and the military. It said revenue fell 4 percent after it sold its ballistic vest and North American ballistic helmet businesses.

Mine Safety's sales were also hurt by the stronger dollar and weaker euro, which made the company's products relatively more expensive in European markets. However sales of other products improved.

Mine Safety said its net income declined to $19.2 million, or 51 cents per share, from $20 million, or 54 cents per share. Net revenue fell 4 percent, to $286.6 million from $298.2 million.

Analysts were forecasting net income of 56 cents per share and $289.9 million in revenue, according to FactSet.

Shares of Mine Safety Appliances rose 28 cents to $36.98 in trading Wednesday.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

If you liked this article you might like

Firefighter Safety Gear Replacement to be Boom for MSA Safety

Firefighter Safety Gear Replacement to be Boom for MSA Safety

Strong On High Relative Volume: MSA Safety (MSA)

Strong On High Relative Volume: MSA Safety (MSA)

European Stocks Recoil From Further Drops in Asian Stocks

European Stocks Recoil From Further Drops in Asian Stocks

Trade-Ideas: MSA Safety Incorporated (MSA) Is Today's Strong On High Relative Volume Stock

Trade-Ideas: MSA Safety Incorporated (MSA) Is Today's Strong On High Relative Volume Stock

Insider Trading Alert - DATA, ADSK And MSA Traded By Insiders

Insider Trading Alert - DATA, ADSK And MSA Traded By Insiders