Airgas sales up 6 percent
Airgas said its fiscal second quarter sales increased 6% over the prior year to $1.36 billion.
Organic sales were up 4% over the prior year, with gas and rent up 3% and hardgoods up 6%. Acquisitions contributed sales growth of 2% in the quarter.
Net earnings of $98.3 million, or $1.30 per share, compared to $94.9 million, or $1.27, for the same period last year.
"Organic sales during the quarter came in slightly above our expectations with hardgoods leading the growth, and our earnings were solidly in the middle of our guidance range," said Airgas president and chief executive officer Michael L. Molinini. "Although sluggishness persists in some sectors, activity this quarter reaffirmed our prior belief that sectors such as mining and heavy equipment that were significant headwinds in the prior year are now stabilizing."
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.
