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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