Praxair Releases April Business Trends; Will Discontinue Report After Second Quarter
May 21, 2007
The company will discontinue its monthly business trends reports beginning in the third quarter of 2007.
The company believes that monthly sales comparisons versus the prior year are not necessarily an accurate indicator of longer-term financial performance due to fluctuations in monthly day count, changes in pass-through natural gas prices, timing and recognition of sales revenue, and the periodic occurrence of one-time events in the prior-year month.
In addition, because of the variation in the operating profit margins between hydrogen sales and atmospheric gases sales, combined with the timing of the start-up of new, large facilities of each type, monthly sales comparisons have become a less accurate indicator of earnings growth.
The company is also reiterating its previously issued guidance for expected earnings per diluted share of 83 cents to 87 cents for its second quarter ending June 30, 2007, and $3.35 to $3.50 for the full year 2007.
Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2006 sales of USD $8.3 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.