Chart Industries, Inc. has reported a contrasted set of results for the second quarter ended June 30, 2016, with net sales down year-on-year but rises observed in both net income and gross profit.
Net sales for the second quarter decreased 8.6% to $247.1m from $270.3m in the comparable period a year ago.
But net income for the quarter was $21.2m, or $0.68 per diluted share, and would have been higher were it not for restructuring and acquisition-related costs. This compares with net income of $17.2m , or $0.56 per diluted share, for the second quarter of 2015.
The company also saw gains in gross profit, which stood at $87m in the second quarter (or 35.2% of sales) compared to a figure of $74.9m (27.7% of sales) in the same period last year.
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