UPDATE: Praxair Posts Drop In Q4 Profit, Declares Dividend

Praxair (NYSE: PX) reported a drop in its net income in the fourth quarter. Praxair's quarterly profit declined to $414 million, versus $420 million, in the year-earlier period. Its earnings per share came in at $1.38. On an adjusted basis, Praxair's net income came in at $1.38 per share in the latest period. Its quarterly sales came in at $2.8 billion. However, analysts were expecting earnings of $1.38 per share on revenue of $2.78 billion. Praxair projects 2013 sales of around $12 billion and earnings of $5.85 to $6.10 per share. It also declared a dividend of $0.60 per share.Praxair shares closed at $114.02 yesterday.