Sales and profits rise for Airgas
Airgas, distributor of industrial, medical and speciality gases, has reported increased sales of 18 percent in its first quarter ending 30th June 2007, with sales of $915m and profits up by 34 percent against last year.
The company also raised its earnings guidance for fiscal 2008, while ten analysts estimate earnings of $2.57 per share for next year.
Acquisitions accounted for 11 percent of the first quarter sales growth and the company anticipates earnings of $0.57 to $0.60 per share for the second quarter, including an estimated $0.03 per share of integration expense from the Linde packaged gas transaction.
Peter McCausland, Airgas CEO, commented, $quot;We had an outstanding quarter. We continue to see good growth in non-residential construction and energy markets, and our strategic products are also performing well.$quot;
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