IHS Chemical Week

Markets :: Industrial Gases

Airgas Profits Fall on Charges

11:55 AM MDT | May 6, 2010 | Nancy Seewald

Airgas reported net earnings of $40.1 million for its fiscal fourth quarter ended March 31, down 29% from the same period last year, due to legal charges associated with Air Products’ takeover attempt as well as a debt extinguishment charge. Excluding special charges, Airgas’ earnings were 69 cts/share, up slightly from year-ago levels and ahead of analyts’ consensus of 67 cts/share, as reported by Thomson One (New York). Sales fell 1%, to $980.4 million. “The economic recovery appears to be building momentum, as daily sales rates improved...

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