date:May 04, 2014
are maintaining our full year EPS and operating income guidance, Gordon added.
Sales were down 14% as a result of currency devaluations and negative price/mix which was a result of lower raw material costs partially offset by a slight increase in volume.
Operating income was $122 million, a 30% decrease compared to $175 million in the first quarter of 2013. The decline was primarily due to soft results in North America caused by costs associated with extreme weather and the layout of fixed pr