Praxair has announced record first-quarter net income of $225 million, and diluted earnings per share of 68 cents.
Earnings per share and net income grew 19 per cent on a comparable basis including stock option expense in the prior year.
Sales in the first quarter rose 11 per cent to $2,026m, compared to $1,827m in the 2005 quarter. Operating profit of $352m grew 17 per cent on a comparable basis due to strong sales growth and significant operating leverage from price attainment and productivity.
‘We delivered another quarter of record results,’ said Dennis H. Reilley, chairman and chief executive officer. ‘Our electronics business led sales higher with growth of 35 per cent, followed by aerospace, metals and manufacturing, which showed high double-digit growth.’
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