American, Valley National Gases Incorporated reported that net earnings for the second quarter and six months ended December 31, 2005 were $.45 and $.66 per diluted share, respectively, compared to $.36 and $.53 per diluted share for the same periods last year.
Sales for the second quarter were $56.4 million, a 30.6% increase over the same quarter last year. Sales for the first half year were $98.1 million, a 23.5% increase over the same period last year.
Valley National Gases’ Vice Chairman and Chief Executive Officer, William A. Indelicato, commented, ‘Sales growth in both the quarter just completed and the first half of our fiscal year was realized as a result of both strong same store sales and the effect of our recently completed acquisitions.’ Valley National Gases acquired United Propane Services, Inc. in December, Reynolds Welding Supply Company, Inc. and its subsidiaries in October and Plymouth Wayne Welding Supplies, Inc. in June of this year.
'Sales were higher in the second quarter this year'
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