UPDATE 1-Airgas fiscal 2nd-quarter profit climbs

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Thu Oct 23, 2008 4:30pm EDT

*Q2 EPS 86 cents vs 60 cents

*Q2 sales up 15.4 pct to $1.16 bln

NEW YORK Oct 23 (Reuters) - Airgas Inc (ARG.N) said on Thursday its fiscal second-quarter profit rose, driven by growth from acquisitions.

Net income in the quarter ended Sept. 30 was $72.8 million, or 86 cents a share, compared with a year-ago profit of $50.6 million, or 60 cents a share.

Quarterly sales increased 15.4 percent to $1.16 billion.

Radnor, Pennsylvania-based Airgas is a major distributor of industrial, medical and specialty gases. It also distributes welding equipment, safety products and other supplies.

The company forecast fiscal third-quarter earnings of 82 cents to 84 cents a share. It reiterated its fiscal 2009 earnings expectations of $3.30 to $3.40 per share.

For those periods, Wall Street on average is expecting earnings of 82 cents a share and $3.33 a share, respectively, according to Reuters Estimates. (Reporting by Euan Rocha; Editing by Tim Dobbyn)

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