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Home » Airgas Second-Quarter Sales Down 17%
Airgas

Airgas Second-Quarter Sales Down 17%

By    MDM  Staff 
October 29, 2009
More about:  Airgas,  Gases/Welding Equipment,  Industrial
Same-store sales for the gases distributor fell 19% during the quarter.
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Airgas, Inc. (NYSE: ARG), Radnor, PA, a U.S. distributor of industrial, medical, and specialty gases and related supplies, reported sales for the second quarter ended Sept. 30, 2009, were $962 million, down 17% from the prior year. Total same-store sales declined 19% with hardgoods down 27%. Net earnings were $54.5 million.

"While sales finished stronger than they started, we are still in a very challenging economy," CEO Peter McCausland said. "Difficult conditions were broad-based across our geographies and customer segments. Consistent with recent quarters, our manufacturing customers suffered the deepest declines while our medical business showed the most resilience."

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