We enter 2013 with a substantial order backlog. Natural gas related sales provided significant growth during 2012 and we expect those opportunities to continue, particularly in China. In North America, the LNG infrastructure build-out continues, and we believe demand for vehicle fueling will approach the growth curve we are now experiencing in China within 2-3 years. In addition, interest in Marine and Rail applications of LNG is developing dramatically, which should create significant demand within several years on a global basis. We continue to invest for the future and believe in the long-term growth opportunities in LNG. The more modest growth experienced in our industrial gas business in 2012 is expected to continue during 2013. Our BioMedical business will continue to be impacted by a slow European market and the Medicare competitive bidding process in the U.S. Due to macroeconomic uncertainties in Europe and the U.S., we do not expect any significant improvement in the biomedical and industrial gas markets to occur until later in 2013.
Based on our current backlog and order expectations, net sales for 2013 are expected to be in a range of $1.2 billion to $1.3 billion and diluted earnings per share are expected to be in a range of $2.90 to $3.30 per share, based on approximately 30.3 million weighted average shares outstanding. Included in our 2013 earnings estimates are approximately $0.10 per diluted share for anticipated restructuring charges, primarily for retention expenses associated with the recently completed AirSep acquisition. Excluding these charges, earnings would be expected to fall in a range of $3.00 to $3.40 per share.
FORWARD-LOOKING STATEMENTSCertain statements made in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Company's plans, objectives, future orders, revenues, earnings or performance, liquidity and cash flow, capital expenditures, business trends, and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as "may," "will," "should," "expects," "anticipates," "believes," "projects," "forecasts," "outlook," "guidance," "continue," or the negative of such terms or comparable terminology.
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