Airgas sales up 2%
Airgas reported fiscal fourth quarter sales were $1.26 billion, an increase of 2% over the prior year.
Organic sales in the quarter were flat compared to prior year, with gas and rent up 4% and hardgoods down 5%. Acquisitions contributed sales growth of 2% in the quarter.
Net earnings of $86.1 million, or $1.13 per share, compared to earnings of $87.9 million, or $1.12 per share, in the same period last year.
Full year sales increased 4% over the prior year to $4.96 billion while earnings were $340.8 million, or $4.35 per share, compared to $313.3 million, or $4.00 per share, last year.
During the year, the company completed the implementation of SAP in its regional distribution businesses, completed a $600 million share repurchase program, and acquired 18 businesses with aggregate annual sales of more than $95 million. "These achievements are significant milestones in the development of our company and help position us for sustainable long-term growth," said executive chairman Peter McCausland.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
