Chart Industries has reported results for the second quarter ended 30th June 2017.
Net income for the Q2 of 2017 was $2.8m or $0.09 per diluted share. Q2 2017 earnings would have been $0.21 per diluted share excluding $5.0m of restructuring and $1.0m of acquisition-related costs. This compares with a net loss of $2.9m, for the first quarter of 2017.
Sales for Q2 of 2017 increased to $238.2m from $204.1m in the first quarter of the year, with sequential increases in all three segments. Order activity continues to increase year to date across the three segments, with $252.6m in orders received in the quarter, increasing backlog to $367.2m from $348.6m at the end of the first quarter of 2017.
Gross profit for Q2 of 2017 was $63.2m, or 26.5% of sales, which was unfavorably impacted by $2m of restructuring costs. Gross profit for the Q1 of 2017 was $55.7m, or 27.3% of sales, inclusive of $2.5m of restructuring costs.
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