UPDATE 1-Air Products & Chemicals Q4 earnings dip

* Q4 EPS $1.13 vs. $1.21

* Street expected $1.12

* Revenue down 22 percent

NEW YORK, Oct 21 - Air Products and Chemicals Inc posted a 6.8 percent drop in fiscal fourth-quarter net profit on Wednesday, as sales fell across its businesses, though results narrowly beat expectations.

For the quarter, the industrial gas supplier posted net income of $243.9 million, or $1.13 per share, compared with $261.6 million, or $1.21 per share, in the year-earlier period. Earnings from continuing operations were $1.14 per share.

Analysts had expected earnings of $1.12 per share, according to Thomson Reuters I/B/E/S estimates.

Revenue fell 22 percent to $2.13 billion, though it beat the $2.09 billion analysts had expected.

For the fiscal year, the company posted net income of $631.3 million, or $2.96 per share, on revenue of $631.3 million.

For fiscal 2010, the company expects earnings of $4.65 to $4.90 per share.

Shares of the Allentown, Pennsylvania-based company fell $1.26 to $81.98 in premarket trading.