Chart Industries Inc. has reported its results for the fourth quarter and year ended 31 December 2014.
Net income for the fourth quarter of 2014 was (US) $26.9m, compared to $23.2m in the fourth quarter of 2013. However, net income for the year 2014 was down to $81.9m, compared with $83.2m for the year 2013.
Net sales for the fourth quarter of 2014 increased 7.3% to $326.1m from $303.8m in the comparable period a year ago. Gross profit for the fourth quarter of 2014 was $96.9m compared to $93.8m in the comparable quarter of 2013.
Sam Thomas, Chart’s Chairman, President and Chief Executive Officer, said, “We delivered better than anticipated results in the quarter on improved project execution in Energy and Chemicals (E&C) and strong global results in our Distribution and Storage (D&S) industrial gas business. Those results were partially offset by declines in biomedical respiratory therapy sales and D&S LNG sales in both the US and China.”
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