Praxair sales fall by 4%
Praxair reported third-quarter sales were $2.77 billion, 4% below the prior-year quarter.
Net income was $430 million, or $1.43 per diluted share.
In North America, third-quarter sales were $1.39 billion, 2% below the prior-year quarter. Sales grew to the manufacturing, energy and metals markets.
In Europe, third-quarter sales were $352 million. Sales were 2% below the prior-year quarter due primarily to negative currency translation which decreased sales by 13%.
In South America, third-quarter sales were $516 million, 15% lower than the prior-year quarter due to the impact of negative currency translation.
Sales in Asia were $358 million, up 3% from the prior-year quarter. Higher on-site sales in China from new plant start-ups were partially offset by lower merchant sales to the electronics and photovoltaic industries.
"While we are expecting that macro-economic conditions overall may continue to weaken in the near-term, we will continue to drive long-term growth through our strategy of focusing on energy, environmental and emerging markets opportunities,” said chairman, president and chief executive officer Steve Angel.
For the full year of 2012, Praxair expects sales in the area of $11.2 billion.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
