Airgas reports record Q4 results
Airgas has reported strong growth in sales and earnings, for its fourth quarter ended 31 March.
Quarterly income from continuing operations grew 51 per cent to $36m, or $0.45 per diluted share, compared to $24m or $0.31 per diluted share, a year ago. Quarterly results a year ago included expenses of $0.02 per diluted share related to acquisition integration and employee separation costs.
Current quarter net income grew 39 per cent to $33m, or $0.42 per share, including a non-cash, after-tax charge of $3m, or $.03 per share, to reflect the adoption of an accounting change.
Fourth quarter sales increased 16 per cent to $747m reflecting strong same-store sales growth, as well as acquisitions. Total same-store sales were up 12 per cent compared to the same quarter a year ago, with gas and rent up 10 per cent and hard goods up 13 per cent. Sales results reflect broad demand from industrial, energy, and non-residential construction market segments.
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