Chart Industries, Inc. (NASDAQ:GTLS) announced its results for the fiscal fourth quarter and year-end 2014. The company experienced record sales and operating income for the periods showing strong growth on all fronts. The company faced uncertainty in the industry yet was still able to produce the strong numbers it did. The fourth quarter showed revenue of $326 million and a gross profit of $96 million. Both were strong growth when compared to the same periods a year-ago. Chart Industries, Inc. (NASDAQ:GTLS) showed great execution of its business model in creating the record numbers and gave positive guidance for the coming year 2015.
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Operating cash flow for the quarter was also strong at $109 million giving the company the power to participate in the R&D of its portfolio of products. It also implemented some cost cutting procedures in response to its energy environment. Net income for the quarter was $26.9 million which equates to 88 cents per share. During the same-period a year ago the company posted an eps of 76 cents per share.
Year Results
For the fiscal year 2014 Chart Industries, Inc. (NASDAQ:GTLS) had a net income of $81.9 million and that was an EPS of $2.67. That is a 7 cents gain over the previous year of 2013. Net sales for the quarter were $326 million which is a 73% increase over the previous period also. Gross profit was $96 million and showed a 30% increase when compared to the 2013 reporting period. Net sales for the year came in at $1.1 million or an increase of 1%. Gross profits rose 30% also when compared to the same timeframe a year ago.
The results set records for Chart Industries, Inc. (NASDAQ:GTLS) and were a result of strong execution in its distribution and storage businesses. Results were hampered a little by soft numbers in its respiratory portfolio of products.
Technical
The stock appreciated quickly but failed to close above its resistance at $35.00. Until it closes above this level sideways trading can be expected.
