Airgas, Inc. (NYSE: ARG), Radnor, PA, U.S. distributor of industrial, medical, and specialty gases, and related supplies, reported sales for the fiscal year 2011 were up 10 percent from the prior year to $4.3 billion. Total same-store sales were up 8 percent, with hardgoods up 11 percent and gas and rent up 7 percent, while acquisitions contributed 2 percent sales growth for the year.
| We Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
Profit for the year was $250 million.
For the fourth quarter ended March 31, 2011, sales were $1.1 billion, an increase of 12 percent over the prior year. Same-store sales were up 11 percent in the quarter, with hardgoods up 14 percent and gas and rent up 9 percent. From the third quarter, sales were up 7 percent, and sales per day increased 3 percent.
"The manufacturing recovery that began in the central regions of the U.S. among larger customers is now evident more broadly throughout the country and in smaller manufacturers. Our medical business began to accelerate this quarter, and utilities and petrochemical customers, as well as customers using our products and services for repair and maintenance operations, continued to show strength," said Airgas CEO Peter McCausland.
