Exhibit 99.1
  News Release   Airgas, Inc.
259 N. Radnor-Chester Road
Suite 100
Radnor, PA 19087-5283
Media Contact:
  Investor Contact:
Jay Worley (610) 902-6206
  Barry Strzelec (610) 902-6256
For release:             Immediately
Airgas Reports Third Quarter EPS of $0.76,
13% Growth over Prior Year
RADNOR, PA — January 28, 2009 —
Airgas, Inc. (NYSE: ARG), the largest U.S. distributor of industrial, medical and specialty gases, and welding, safety and related products, today reported growth in sales, operating income and earnings, as well as strong free cash flow* for its third quarter ended December 31, 2008.
Quarterly net earnings grew to $62.9 million, or $0.76 per diluted share, compared to $56.8 million, or $0.67 per diluted share, in the prior year, representing a 13% increase in earnings per share. The prior year quarter included $0.01 per diluted share of integration expense primarily associated with the acquisition of Linde’s U.S. packaged gas business, and a one-time $0.01 per diluted share tax benefit related to a change in state tax law.
Third quarter sales increased 7% from the prior year to $1.1 billion. Acquisitions contributed 6% to the increase, and total same-store sales grew 1% in the quarter, with gas and rent up 6% and hardgoods down 5%.
“Our strategic products, which have favorable long-term growth profiles and represent about 40% of sales, posted 4% organic growth in the quarter,” said Airgas Chairman and Chief Executive Officer Peter McCausland. “The second half of the quarter was characterized by widespread slowing across most of our customer segments, with relative strength in the medical, analytical, and food and beverage segments.
“Our operating margins held up relatively well, demonstrating our ability to react quickly in a downturn,” McCausland added, referring to the Company’s 12.1% operating margin in the quarter. “We generated $59 million of free cash flow this quarter, marking our sixth straight quarter of free cash flow in excess of $50


The following information was filed by Airgas West Inc on Thursday, January 29, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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