Airgas has reported strong growth in sales, operating income and earnings for its third quarter ended 31 December 2005.
Quarterly earnings from continuing operations grew 43 per cent to $33 million, or $0.41 per diluted share, compared to $23 million, or $0.30 per diluted share, a year ago. Continuing operations excludes the results of Rutland Tool & Supply, which was divested on 1 December 2005, and is now reported as discontinued operations. Quarterly results from continuing operations a year ago included $0.01 per diluted share in integration expenses related to the acquisition of the BOC Groups U.S. packaged gas business.
Third quarter discontinued operations reported a loss of $1.9 million, or $0.02 per diluted share, primarily due to a loss on the divestiture. Income from discontinued operations in the prior year quarter was not significant. Net earnings for the quarter grew 34 per cent to $31 million, or $0.39 per diluted share, compared to $23 million, or $0.30 per diluted share, in the prior year period.
Third quarter sales increased 17 per cent to $702 million, reflecting strong same-store sales growth as well as acquisition growth. Total same store sales were up 12 per cent compared to the same quarter a year ago.
... to continue reading you must be subscribed
