This Day On The Street
Continue to site
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 2013 Second Quarter Results

CLEVELAND, July 30, 2013 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (Nasdaq:GTLS), a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, today reported results for the second quarter ended June 30, 2013. Highlights include:
  • Sales up 24% from prior year quarter
  • Record D&S order intake of $222.1 million led by LNG demand
  • Record backlog of $664.0 million
  • Receives awards for small scale LNG production plant and ethylene plant
  • Announces new third quarter award in excess of $50 million to provide LNG equipment to PetroChina

Net income for the second quarter of 2013 was $20.0 million, or $0.64 per diluted share. This compares with net income of $17.9 million, or $0.59 per diluted share, for the second quarter of 2012. Second quarter 2013 earnings would have been $0.77 per diluted share excluding $4.8 million, or $0.11 per diluted share, of costs recorded in the quarter largely associated with the AirSep acquisition and flood damage in Europe, as well as a $0.02 per diluted share impact associated with Chart's Convertible Notes ("Notes") given Chart's stock price performance.

The Notes have a dilutive effect on earnings per share when the average market price of the Company's common stock exceeds the Notes' conversion price of $69.03. Upon conversion, our hedge on the Notes protects against dilution up to $84.96 per share, but until conversion occurs, the hedge is considered anti-dilutive under Generally Accepted Accounting Principles ("GAAP") and cannot be taken into account when computing earnings per share. Chart's average common stock price was $87.43 in the second quarter, resulting in the inclusion of an additional 864,168 shares related to the Notes in the diluted earnings per share calculation for the quarter. If the hedge had been able to be considered under GAAP it would have reduced the additional shares by 754,886.  

1 of 7

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.06 1.50%
FB $117.91 -0.56%
GOOG $695.37 -0.41%
TSLA $236.30 -2.30%
YHOO $36.10 -1.20%


Chart of I:DJI
DOW 17,741.49 -149.67 -0.84%
S&P 500 2,062.50 -18.93 -0.91%
NASDAQ 4,769.5430 -48.0510 -1.00%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs