Chart Industry’s accounts show sales and profits are up


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.

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