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Airgas, Inc., Radnor, PA, a U.S. distributor of industrial, medical, and specialty gases, and welding, safety, and related
products, reported sales for the first quarter ended June 30, 2009, were $1.0 billion, down 12% from the prior year. Profit
declined 20.4% to $54.8 million.
Same-store sales declined 17%, with hardgoods down 27% and gas and rent down
10%. Acquisitions contributed 5% sales growth in the quarter.
"Sales were consistently at
the low end of our expectations throughout the quarter, and demand continues to be weak across most customer
segments," CEO Peter McCausland said. "Manufacturing has shown the deepest declines, analytical
and utilities have shown some resilience, and our medical sales posted positive ...
Airgas, Inc., Radnor, PA, a U.S. distributor of industrial, medical, and specialty gases, and welding, safety, and related
products, reported sales for the first quarter ended June 30, 2009, were $1.0 billion, down 12% from the prior year. Profit
declined 20.4% to $54.8 million.
Same-store sales declined 17%, with hardgoods down 27% and gas and rent down
10%. Acquisitions contributed 5% sales growth in the quarter.
"Sales were consistently
at the low end of our expectations throughout the quarter, and demand continues to be weak across most
customer segments," CEO Peter McCausland said. "Manufacturing has shown the deepest declines,
analytical and utilities have shown some resilience, and our medical sales posted positive growth."
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