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Airgas Reports Fiscal Fourth Quarter and Full Year 2011 Earnings
- Record fourth quarter adjusted diluted EPS* of $0.88, which includes $0.04 of SAP costs and excludes $0.14 of special items, up 28% over prior year
- Fourth quarter same-store sales up 11% over prior year
- Record full-year adjusted diluted EPS* of $3.34, which includes $0.14 of SAP costs and excludes $0.41 of special items, up 25% over prior year
- Full-year free cash flow* of $387 million; adjusted cash from operations* of $617 million
- Fiscal year 2012 adjusted diluted EPS* guidance of $3.75 to $3.90, which includes $0.32 of SAP costs
RADNOR, Pa.--(BUSINESS WIRE)--May 5, 2011--Airgas, Inc. (NYSE: ARG), the largest U.S. distributor of industrial, medical, and specialty gases, and related supplies, today reported net earnings of $63 million, or $0.74 per diluted share, for its fourth quarter ended March 31, 2011. Excluding legal and professional fees and other costs of $0.14 per diluted share** related to an unsolicited takeover attempt, adjusted earnings per diluted share* were $0.88, an increase of 28% from adjusted earnings per diluted share* of $0.69 in the prior year. Prior year GAAP earnings per diluted share of $0.47 included legal and professional fees of $0.18 related to an unsolicited takeover attempt, debt extinguishment charges of $0.07 and a $0.03 income tax benefit. Adjusted earnings per diluted share include SAP implementation costs and depreciation expense of $0.04 and $0.01 for the current and prior year quarters, respectively.
Fourth quarter sales were $1.1 billion, an increase of 12% over the prior year. Total same-store sales increased 11% in the quarter, with hardgoods up 14% and gas and rent up 9%. Sequentially, total sales increased 7% from the third quarter, and sales per day increased 3%.
The following information was filed by Airgas Inc (ARG) on Thursday, May 5, 2011 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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