Chart Industries, Inc. today reported results for the second quarter ended June 30, 2015.
Highlights include:
- Strong Distribution & Storage orders in US
- Announces global alliance with LNG Limited and pending equipment order for Magnolia LNG project
- Completes Thermax acquisition
Net income for the second quarter of 2015 was $17.2 million, or $0.56 per diluted share. Second quarter 2015 earnings would have been $0.60 per diluted share excluding $1.7 million, or $0.04 per diluted share, of facility shutdown and severance costs recorded in the quarter. This compares with net income of $20.1 million, or $0.65 per diluted share, for the second quarter of 2014. Second quarter 2014 earnings would have been $0.70 per share excluding $2.0 million, or $0.04 per diluted share, of acquisition-related and facility start-up costs in that period, as well as a $0.01 per diluted share impact associated with Chart’s Convertible Notes.
Net sales for the second quarter of 2015 decreased 12% to $270.3 million from $306.8 million in the comparable period a year ago. Gross profit for the second quarter of 2015 was $74.9 million, or 27.7% of sales, versus $92.2 million, or 30.0% of sales, in the comparable quarter of 2014.
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