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GTLS Earnings Surprise Causes a Bullish Breakout

BATS:GTLS   CHART INDS INC
Chart Industries reported an earnings surprise with Q4 income at $0.88/share, up 23.9% year over year. The chart is currently experiencing a bullish breakout over old highs. The ADX is above 20 which is important for a valid tradable trend that is not in a sideways consolidation mode. The new bullish change in direction is confirmed by the green DI+ line above the red DI- line.

From the company's website at http://ir.chartindustries.com/releasedetail.cfm?ReleaseID=897846

Record sales and operating income for 2014 on solid execution
Strong balance sheet and liquidity to weather market uncertainty and capitalize on opportunities
Robust 2014 operating cash flow of $119 million
Cost reduction actions implemented in response to current energy environment

Net income for the fourth quarter of 2014 was $26.9 million, or $0.88 per diluted share. This compares with net income of $23.2 million, or $0.71 per diluted share, for the fourth quarter of 2013. Net income for the year 2014 was $81.9 million, or $2.67 per diluted share. This compares with net income of $83.2 million, or $2.60 per diluted share, for the year 2013.

Net sales for the fourth quarter of 2014 increased 7.3% to $326.1 million from $303.8 million in the comparable period a year ago. Gross profit for the fourth quarter of 2014 was $96.9 million, or 29.7% of sales, versus $93.8 million, or 30.9% of sales, in the comparable quarter of 2013.

Net sales for the year 2014 improved to $1,193.0 million, up 1.3% from 2013 net sales of $1,177.4 million. Gross profit for 2014 was $357.9 million, or 30.0% of sales, compared to $351.7 million, or 29.9% of sales, in the full year 2013.
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