Industrial gas provider Praxair Inc. said today its fourth-quarter earnings rose 17 percent on strong sales growth and plant start ups, coupled with improved pricing and cost cuts.
The company earned $316 million, or 98 cents per share, compared with a year-ago profit of $269 million, or 82 cents per share.
Revenue rose 18 percent to $2.52 billion, from $2.12 billion in the prior-year period.
Analysts expected profit of 97 cents per share on revenue of $2.41 billion, according to a poll by Thomson Financial.
The company said North American sales, which rose 17 percent, were led by energy and general manufacturing units. Sales in other regions were helped by new business growth and productivity initiatives, the company said.
For the full-year, the company posted profit of $1.18 billion, or $3.62 per share, up 19 percent from $988 million, or $3 per share, in 2006.
Revenue rose 13 percent to $9.4 billion, from $8.32 billion a year ago.
Analysts predicted profit of $3.60 per share on revenue of $9.28 billion.
