Chart Industries Q4 Results Miss Estimates; Sees 2014 Below View - Quick Facts

(RTTNews) - Chart Industries Inc. (GTLS), a manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, said that net income attributable to the company for the fourth quarter of 2013 was $23.2 million, or $0.71 per share, up from $20.8 million or $0.69 per share in the fourth quarter of 2012.

Fourth quarter 2013 earnings would have been $0.82 per share excluding $3.2 million, or $0.07 per diluted share, of costs largely associated with the AirSep acquisition, as well as a $0.04 per share impact associated with Chart's Convertible Notes. Analysts polled by Thomson Reuters expected the company to report earnings of $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter 2012 earnings would have been $0.80 per share excluding $4.5 million, or $0.11 per share, of acquisition-related costs in that period.

Net sales for the fourth quarter of 2013 were $303.8 million, essentially the same as the $303.9 million in the comparable period a year ago. Twelve analysts estimated revenues of $323.06 million for the quarter.

Net sales for 2014 are expected to be in a range of $1.3 billion to $1.35 billion and earnings per share are expected to be in a range of $3.10 to $3.50 per share. This excluded any potential dilution impact from the Notes. Street currently is looking for fiscal year 2014 earnings of $3.75 per share on annual revenues of $1.38 billion.