Posted January 26, 2011
Praxair sales up 9 percent
Praxair reported fourth-quarter sales of $2.6 billion, up 9% from $2.4 billion in the previous year's quarter.
Sales increased across all geographic regions due primarily to electronics, manufacturing, energy and metals markets. In North America, fourth-quarter sales were $1.3 billion, up 11% from the prior-year quarter. Operating profit of $311 million grew 19% from the prior year due to higher volumes and strong operating leverage and productivity.
Net income was $133 million, or 43 cents per share.
Full-year sales were $10.1 billion, up 13% due primarily to higher volumes, with net income of $1.1 billion, or $3.84 per share.
"Our global business turned in a strong performance in 2010. We achieved record operating profit by leveraging the strong recovery in volumes and new plant start-ups along with ongoing productivity and cost reduction. We continued to invest in capital projects for future growth and established a presence in two growing geographies, Russia and the Middle East," said chairman and chief executive officer Steve Angel.
