Exhibit 99.1

Airgas Reports Record Fiscal Fourth Quarter and Full Year Earnings

  • Record fourth quarter adjusted diluted EPS* of $1.11, up 26% over prior year
  • Fourth quarter same-store sales up 11% over prior year
  • Return on capital* of 12.5%, up 60 basis points over prior year
  • Record full-year adjusted diluted EPS* of $4.11, up 23% over prior year
  • Fiscal year 2013 adjusted diluted EPS* guidance of $4.70 to $4.85

RADNOR, Pa.--(BUSINESS WIRE)--May 3, 2012--Airgas, Inc. (NYSE: ARG), the largest U.S. distributor of industrial, medical, and specialty gases, and related supplies, today reported strong performance in sales, operating income, and earnings for its fourth quarter ended March 31, 2012. Business trends reflect growth across the Company’s diverse customer base with particular strength in large manufacturing, petrochemical, and energy customers.

Fourth quarter adjusted earnings per diluted share* were a record $1.11, an increase of 26% from $0.88 in the prior year. Results included SAP implementation costs and depreciation expense of $0.09 and $0.04 per diluted share for the current and prior year quarters, respectively, and the current quarter reflected the benefit of share repurchases which offset the incremental SAP costs.

Fourth Quarter Full Year
FY2012   FY2011 % Change FY2012 FY2011 % Change
Earnings per diluted share (GAAP) $ 1.12 $ 0.74 51 % $ 4.00 $ 2.94 36 %
Restructuring and other special charges 0.05 - 0.19 -
Costs (benefits) related to unsolicited takeover attempt - 0.14 (0.06 ) 0.33
Multi-employer pension plan withdrawal charges - - 0.04 0.03
Income tax benefits ** (0.06 ) - (0.06 ) -
Loss on early extinguishment of debt - - - 0.03
One-time interest penalty   -     -     -     0.02  
Adjusted earnings per diluted share (non-GAAP) $ 1.11   $ 0.88 26 % $ 4.11   $ 3.35 23 %
** The Company’s adjusted effective tax rate*, which excludes the $0.06 per diluted share benefit to the Company’s income taxes resulting from the LLC reorganization and a foreign tax liability true-up, was 36.2% for the current quarter and 37.3% for the year ended March 31, 2012. Refer to footnote (f) for additional details.

The following information was filed by Airgas Inc (ARG) on Thursday, May 3, 2012 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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