Posted May 5, 2011
Airgas annual sales up 10%
Airgas reported fourth quarter sales of $1.1 billion, an increase of 12% over the prior year.
Total same-store sales increased 11%, with hardgoods up 14% and gas and rent up 9%. Sequentially, total sales increased 7% from the third quarter, and sales per day increased 3%.
Net earnings were $63 million, or 74 cents per diluted share.
"The manufacturing recovery that began in the central regions of the U.S. among larger customers is now evident more broadly throughout the country and in smaller manufacturers. Our medical business began to accelerate this quarter, and utilities and petrochemical customers, as well as customers using our products and services for repair and maintenance operations, continued to show strength," said Airgas chief executive officer Peter McCausland.
For the full year, sales increased 10% from the prior year to $4.3 billion. Net earnings for the year were $250 million, or $2.93 per diluted share.
