US Airgas Q4 net earnings rise 40%, sales up 13% to $1.2bn

03 May 2012 13:29  [Source: ICIS news]

LONDON (ICIS)--Airgas' fiscal fourth-quarter net earnings rose by 40% year on year to $88m (€67m) on the back of strong sales, the US-based industrial gases firm said on Thursday.

Airgas’ net sales for the three months ended 31 March 2012 rose by 13% year on year to $1.2bn.

"Our performance was very strong this quarter across most of our core business, with particular strength in manufacturing, petrochemical and energy customers, and noticeable improvement in our construction customer base, despite a weak new project market," said CEO Peter McCausland.

For the full fiscal year ended 31 March 2012, net earnings increased by 25% year on year to $313.4m, while sales rose by 12% to $4.7bn.

"Our record sales and earnings performance this year is a testament to the value of our investment in organic growth initiatives, such as our strategic accounts program, as well as our strong operating culture and customer-centric approach to doing business," said McCausland.

($1 = €0.76)

By: Leigh Stringer
+44 208 652 3214

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