Airgas positioned for profitable growth


The CEO of Airgas has said the company is positioned for profitable growth as the economy recovers.

The company has reported net earnings of $46.9m, or $0.56 per diluted share, for its third quarter ended 31st December 2009.
Third quarter sales were $942m – a decline of 13% from the previous year.

Total same-store sales declined 14%, with hardgoods down 19% and gas and rent down 11%.

Acquisitions contributed 1% sales growth in the quarter. On a sequential basis, total sales declined by 2% from the second quarter, reflecting the impact of fewer selling days and a normal seasonal decline of certain businesses in the All Other Operations segment. Sales per selling day increased sequentially by 1%.

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