Praxair sales rise 7%
Praxair Inc. reported fourth-quarter net income of $420 million on sales of $2.8 billion, up 7% from the prior-year quarter.
Operating profit in the fourth quarter was $618 million. In North America, fourth-quarter sales were $1.4 billion, up 7% from the prior-year quarter. Underlying sales grew 10% from higher volumes and prices, largely attributable to growth in the manufacturing, energy, chemicals and metals markets.
For the full year of 2011, reported net income was $1.7 billion and reported diluted earnings per share was $5.45.
Full-year sales grew 11% from 2010 to $11.3 billion, due primarily to higher volumes and prices. Reported operating profit was $2.5 billion.
"As we enter 2012, our outlook remains positive, particularly for the North American energy, manufacturing and materials industries which we serve and the growing economies in Asia and South America. We expect strong project activity again in 2012 and we remain confident in our ability to execute in a manner our customers and shareholders have grown to anticipate," according to a company press release.
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.
