Chart Industries, Inc. has reported healthy financial results for the fourth quarter and year ended December 31, 2006.
Net sales for the quarter increased 28 percent to $144.4m from $112.5m in the comparable period a year ago. For the year, net sales rose 33 percent to $537.5m from $403.1m in 2005. Net income for the quarter was $8.6m, which compares to a net loss of $13.3m for the same period a year ago. In 2005, the Company earned $8.4m.
$quot;We are very pleased with our fourth quarter and 2006 results, which exceeded our original expectations,$quot; stated Sam Thomas, Chart Industries, Inc. president and chief executive officer. $quot;Our strong sales gains in both the quarter and full year reflect the continued strength of our energy & chemicals and Distribution & Storage business segments.$quot;
Gross profit for the quarter was $42.4m, compared to $25.2m in the fourth quarter of 2005. Gross profit for the year was up 41 percent to $154.9m from $110.1m in the previous year. The company explain this increase in gross profit primarily reflects the strong sales volume.
... to continue reading you must be subscribed
