Praxair report record first-quarter net income of $195 million, versus $164 million earned in the first quarter of 2004.
Diluted earnings per share grew 20% to 59 cents, compared with 49 cents in last year’s quarter.
Sales in the quarter were $1,827 million, 19% above $1,531 million in the 2004 period. Operating profit grew 19% to $309 million from $260 million in 2004. Sales and operating profit were sharply higher in every geographic region, with the highest sales growth coming from global energy, metals and industrial manufacturing markets.
Cash flow from operations in the quarter was $289 million, and capital expenditures were $165 million. The company made $31 million of net common stock repurchases, and the after-tax return-on-capital* ratio was 12.7% at the end of the quarter.
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