This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chart Industries Reports 2012 Fourth Quarter And Year-End Results

Cash and short-term investments were $141.5 million at December 31, 2012, which compares to $105.8 million at September 30, 2012. Cash flow from operating activities for the fourth quarter of 2012 was $73.2 million, led by higher net income and working capital improvements during the quarter.

SEGMENT HIGHLIGHTS

E&C segment sales increased 70% to $94.8 million for the fourth quarter of 2012 compared with $55.6 million for the same quarter in the prior year. Revenue from large projects in backlog continues to accelerate. E&C orders for the fourth quarter of 2012 were $62.2 million, up 10% from the $56.4 million reported in the third quarter of 2012. E&C gross profit margins were 31.0% in the 2012 quarter compared with 24.8% in the same quarter of 2011. Higher volume, improved project mix and pricing, particularly in our brazed aluminum heat exchanger business, led to the margin improvement. In addition, several emergency short lead time opportunities during the fourth quarter of 2012 contributed 1.5% to E&C gross margin.

D&S segment sales improved 22% to $139.3 million for the fourth quarter of 2012 compared with $114.4 million for the same quarter in the prior year. Additional LNG equipment shipments in 2012, especially in Asia, led the improvement. D&S gross profit margin improved to 29.5% in the quarter compared with 26.6% a year ago. Improved volume, pricing, and lower material costs offset changes in geographic sales mix.

BioMedical segment sales improved 41% to $69.8 million for the fourth quarter of 2012 compared with $49.7 million for the same quarter in the prior year. This increase is due to the AirSep acquisition, which closed in August. The acquired revenues offset overall lower sales of respiratory therapy equipment due to continued weakness in Europe and the impact of Medicare physician audits and the competitive bidding process in the U.S. BioMedical gross profit margin decreased to 21.5% in the quarter compared with 39.9% for the same period in 2011. The decrease is primarily due to lower volume, additional restructuring costs, and changes in product mix, with lower margin oxygen concentrators representing a much larger share of the mix following the AirSep acquisition.

4 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs