US Airgas fiscal Q2 net income and sales rise 4% in sluggish economy

23 October 2012 13:48  [Source: ICIS news]

HOUSTON (ICIS)--Airgas's fiscal 2013 second-quarter net income and sales both rose by 4% year on year, despite a sluggish economy and ongoing helium supply constraints, the US-based industrial gases firm said on Tuesday.

Airgas’s net income for the three months ended 30 September was $81.0m (€62.4m), compared with $77.9m in the same period a year ago, on sales of $1.23bn.

"Our second-quarter earnings reflect the resilience of our business and our 15,000 dedicated associates in a sluggish economic environment," said Airgas executive chairman Peter McCausland.

"Though the relative strength of the US metal fabrication and energy sectors overall has softened of late, we continue to win new business in these sectors on the strength of our strategic accounts programme, technical support, breadth of our product and service offering, and outstanding customer service,” McCausland said.

McCausland added that given “the broad-based moderation in business conditions” in the second quarter, Airgas reduced its full-year fiscal 2013 adjusted earnings per share guidance to $4.45-$4.60, from previous guidance of $4.65-$4.75.

In the 2012 fiscal year, Airgas’s adjusted earnings per share were $4.11.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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