Distribution & Storage ("D&S") segment sales increased 22.5% to $128.7 million for the first quarter of 2013 compared with $105.1 million for the same quarter in the prior year. The increase was led by substantial growth in sales of LNG equipment. D&S gross profit margin was 28.4% in the quarter compared with 28% a year ago. Gross margins improved due to product mix and higher volume.BioMedical segment sales increased 51.8% to $64.1 million for the first quarter of 2013 compared with $42.2 million for the same quarter in the prior year. This increase is due to the AirSep acquisition that was completed during the third quarter of 2012, partially offset by continued weakness in the European market and the delay in the Medicare competitive bidding process in the U.S. BioMedical gross profit margin decreased to 34.4% in the quarter compared with 38.9% for the same period in 2012. Lower respiratory volume and product mix contributed to the decline.
Chart Industries Reports 2013 First Quarter Results
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