Airgas Posts Profit Gain, Rejects Air Products Bid

Airgas reported net earnings of $64.8 million in its fiscal first quarter 2011 ended June 30, up 18% from the same period last year. Adjusted earnings were 83 cts/share, up 26% from the year-ago period and ahead of analysts’ consensus of 71 cts/share, as reported by Thomson One (New York). Sales rose 7%, to $1.05 billion. Its strong financial performance prompted Airgas to lift its dividend by 14%, to 25 cts/share. “We delivered the second-best earnings quarter in company history, which is particularly encouraging given that, at this early stage of...

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