UPDATE 1-Chart profit doubles, sees '08 profit above Street view

(Recasts, adds details)

Feb 28 (Reuters) - Chart Industries Inc (GTLS.O) posted a two-fold increase in quarterly profit, topping Wall Street estimates, lifted by a 60 percent growth in orders at its energy and chemicals unit and forecast 2008 earnings above market view.

The company, which makes equipment that can operate at temperatures near absolute zero and are used to process and store gases, said increased orders at its energy and chemicals segment reflected the growth in the industrial gas market and ramp-up of clean coal technologies.

Chart reported fourth-quarter net income of $16.4 million, or 57 cents a share, compared with $8.6 million, or 33 cents a share in the year-ago period.

Net sales rose 26 percent to $182.7 million for the period.

Analysts on average were looking for a profit of 41 cents a share, before items, on revenue of $166.3 million, according to Reuters Estimates.

Orders at the company's energy and chemicals segment rose to $118.8 million, driven by increased demand for its ethylene cold boxes and brazed aluminium heat exchangers for air separation plants.

The company also forecast 2008 earnings of $2.28 to $2.40 a share, on revenue of $730 million to $765 million. Analysts are expecting earnings of $2.20 a share, on revenue of $738.5 million.

Shares of the company closed at $30 Wednesday on Nasdaq. (Reporting by Dhanya Ann Thoppil in Bangalore; Editing by Hezron Selvi)