Airgas, Inc., Radnor, PA, a U.S. distributor of industrial, medical, and specialty gases, and welding, safety, and related
products, reported sales of $992 million for fourth quarter ended March 31, 2009, down 9% from the prior year. Profit declined
12.4% to $56.5 million. Same-store sales declined 13% in the quarter.
For the full year, sales increased 8% to
$4.3 billion. Acquisitions contributed 7% sales growth in the year, while total same-store sales grew 1%, with hardgoods down
4% and gas and rent up 4%. Airgas completed 14 acquisitions in fiscal 2009. Profit increased 16.9% to $261 million.
current environment puts a damper on what was a record year for Airgas in earnings and cash flow, but we're using this time
to strengthen our operations so that we are well-positioned for growth when the economy begins to recover," said CEO