-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Gx4MVjSs/j/SzAbR4Oxp1xfYRZxAHWH4YWPfuV4k97tw4ywmOUbQnwOvuFJ6DMYA 24BpvM8cOPIyJHkYA9R0rw== 0000893220-05-002791.txt : 20051130 0000893220-05-002791.hdr.sgml : 20051130 20051130150052 ACCESSION NUMBER: 0000893220-05-002791 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20051130 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051130 DATE AS OF CHANGE: 20051130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS INC CENTRAL INDEX KEY: 0000804212 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT [5084] IRS NUMBER: 560732648 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09344 FILM NUMBER: 051234188 BUSINESS ADDRESS: STREET 1: 259 N. RADNOR-CHESTER ROAD STREET 2: SUITE 100 CITY: RADNOR STATE: PA ZIP: 19087 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: 259 N. RADNOR-CHESTER ROAD STREET 2: SUITE 100 CITY: RADNOR STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RED D ARC INC CENTRAL INDEX KEY: 0001158062 IRS NUMBER: 880259460 STATE OF INCORPORATION: NV FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-01 FILM NUMBER: 051234190 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATNL INC CENTRAL INDEX KEY: 0001158063 IRS NUMBER: 510371219 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-19 FILM NUMBER: 051234189 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS DATA LLC CENTRAL INDEX KEY: 0001158066 IRS NUMBER: 383398137 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-16 FILM NUMBER: 051234187 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS MID SOUTH INC CENTRAL INDEX KEY: 0001158193 IRS NUMBER: 710775603 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-12 FILM NUMBER: 051234202 BUSINESS ADDRESS: STREET 1: 295 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 19087 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: 295 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 19087 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS WEST INC CENTRAL INDEX KEY: 0001158055 IRS NUMBER: 951525207 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-08 FILM NUMBER: 051234197 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS SAFETY INC CENTRAL INDEX KEY: 0001158056 IRS NUMBER: 232840701 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-07 FILM NUMBER: 051234196 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RUTLAND TOOL & SUPPLY CO INC CENTRAL INDEX KEY: 0001158057 IRS NUMBER: 952556882 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-06 FILM NUMBER: 051234195 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS CARBONIC INC CENTRAL INDEX KEY: 0001158058 IRS NUMBER: 582298979 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-05 FILM NUMBER: 051234194 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS EAST INC CENTRAL INDEX KEY: 0001158045 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-CHEMICALS & ALLIED PRODUCTS [5160] IRS NUMBER: 061463355 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-24 FILM NUMBER: 051234208 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS GREAT LAKES INC CENTRAL INDEX KEY: 0001158046 IRS NUMBER: 061463355 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-23 FILM NUMBER: 051234207 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS MID AMERICA INC CENTRAL INDEX KEY: 0001158047 IRS NUMBER: 611237230 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-22 FILM NUMBER: 051234206 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS NORTH CENTRAL INC CENTRAL INDEX KEY: 0001158048 IRS NUMBER: 391845894 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-21 FILM NUMBER: 051234205 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS SOUTH INC CENTRAL INDEX KEY: 0001158049 IRS NUMBER: 521390683 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-20 FILM NUMBER: 051234204 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS GULF STATES INC CENTRAL INDEX KEY: 0001158050 IRS NUMBER: 521633106 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-14 FILM NUMBER: 051234203 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS INTERMOUNTAIN INC CENTRAL INDEX KEY: 0001158051 IRS NUMBER: 840590677 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-13 FILM NUMBER: 051234201 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS NOR PAC INC CENTRAL INDEX KEY: 0001158052 IRS NUMBER: 911428840 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-11 FILM NUMBER: 051234200 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS SOUTHWEST INC CENTRAL INDEX KEY: 0001158054 IRS NUMBER: 742768918 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-09 FILM NUMBER: 051234198 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS NORTHERN CALIFORNIA & NEVADA INC CENTRAL INDEX KEY: 0001158053 IRS NUMBER: 232491493 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-10 FILM NUMBER: 051234199 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGAS SPECIALTY GASES INC CENTRAL INDEX KEY: 0001158059 IRS NUMBER: 760182866 STATE OF INCORPORATION: TX FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-04 FILM NUMBER: 051234193 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NITROUS OXIDE CORP CENTRAL INDEX KEY: 0001158060 IRS NUMBER: 232359281 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-68722-03 FILM NUMBER: 051234191 BUSINESS ADDRESS: STREET 1: C/O AIRGASS INC STREET 2: 259 NORTH CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 BUSINESS PHONE: 6106875253 MAIL ADDRESS: STREET 1: C/O AIRGAS INC STREET 2: 259 NORTH RADNOR CHESTER RD STE 100 CITY: RADNOR STATE: PA ZIP: 190875283 8-K 1 w15196e8vk.htm FORM 8-K AIRGAS, INC. e8vk
 

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
November 30, 2005
AIRGAS, INC.
(Exact name of registrant as specified in its charter)
         
Delaware   1-9344   56-0732648
         
(State or other
jurisdiction of
incorporation) 		  (Commission File Number)   (I.R.S. Employer
Identification No.)
259 North Radnor-Chester Road, Suite 100
Radnor, PA 19087-5283
 
(Address of principal executive offices)
Registrant’s telephone number, including area code: (610) 687-5253
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
 
 

 

 

Item 7.01 Regulation FD Disclosure
On November 30, 2005, Airgas, Inc. (the “Company”) is holding its annual analyst meeting in Phoenix, Arizona. At the meeting, the Company is announcing certain financial targets for fiscal years 2006 and 2008. A press release containing the financial targets is attached as Exhibit 99.1 and incorporated herein by reference.
Non-GAAP Measures:
The press release attached as Exhibit 99.1 contains certain financial measures that are not defined under generally accepted accounting principles (GAAP). Return on capital is a non-GAAP measure that helps investors assess how effectively the Company uses the capital invested in its operations. Free Cash Flow is a non-GAAP measure that provides investors meaningful insight into the Company’s ability to generate cash from operations, which can be used at management’s discretion for acquisitions, the prepayment of debt or to support other investing and financing activities. The computation and reconciliation of the non-GAAP financial measures to the closest GAAP measure are presented below:
                 
Computation and Reconciliation of Return on Capital            
    FY06   FY08
     
Operating Income
         259,000       330,000  
     
 
                
Five Quarter Average of Total Assets
     2,390,000       2,760,000  
Five Quarter Average of Securitized Trade Receivables
     210,000       250,000  
Five Quarter Average of Current Liabilities (exclusive of debt)
     (319,000 )     (350,000 )
     
Five Quarter Average Capital Employed
     2,281,000       2,660,000  
 
                
Return on Capital
     11 %     12 %

 

 

         
Reconciliation of Net Cash Provided by Operating Activities   Forecast  
to Free Cash Flow   FY06  
Net Cash Provided by Operating Activities
     274,000  
Less: Cash provided by the securitization of trade receivables
     (30,000 )
Less: Net cash provided by the operations of NWS (1)
     (20,000 )
 
      
Adjusted Cash Provided by Operating Activities
     224,000  
 
        
Capital Expenditures
     (175,000 )
Add: Lease Buyouts
     10,000  
Add: Capital Expenditures of NWS (1)
     25,000  
 
      
Adjusted Capital Expenditures
     (140,000 )
 
        
Add Back:
        
Management Fee paid by NWS (1)
     1,000  
Proceeds from Sale of Plant & Equipment
     5,000  
 
      
Free Cash Flow
     90,000  
 
      
 
(1)   National Welders Supply Co. (“NWS”) is a corporate joint venture meeting the definition of a variable interest entity and for which the Company is the primary beneficiary as described under FIN 46R. The liabilities of NWS are non-recourse to the Company. Likewise, the cash flows in excess of the management fee paid by NWS are not available to the Company. Accordingly, the cash flows of NWS have been excluded from the Company’s non-GAAP Free Cash Flow measure.
Slide number six to be presented at the annual analyst meeting depicts an 18-year graph of sales, shareholders’ equity, Adjusted EBITDA and interest expense for the period FY89 through FY06 (forecast). Adjusted EBITDA is a financial measure that is not defined under GAAP. Adjusted EBITDA and a reconciliation to cash from operations for the period FY89 through FY05 was previously disclosed in a Form 8-K dated July 8, 2005. Since the forecast of FY06 Adjusted EBITDA had not been previously disseminated to the public, the computation of the measure and associated reconciliation are furnished in this Form 8-K. The Company believes Adjusted EBITDA provides investors meaningful insight into the Company’s ability to generate cash from operations to support required working capital, capital expenditures and financial obligations. Forecast fiscal 2006 Adjusted EBITDA and the related reconciliation are presented below:
         
Reconciliation of Operating Income to Adjusted EBITDA to   Forecast  
Cash from Operations   3/31/2006  
Operating income
     259,000  
Add: Depreciation & amortization
     127,000  
 
      
 
        
Adjusted EBITDA
     386,000  
 
        
(Uses)/sources of cash excluded from Adjusted EBITDA, included in Cash from Operations
        
Interest expense, net
     (56,000 )
Discount on securitization of receivables
     (9,000 )
Current income taxes
     (31,000 )
Other income, net
     1,000  
Loss on divestiture
     4,000  
Gain on sale of PP&E
     (1,000 )
Stock issued for employee benefits
     10,000  
Cash used by working capital
     (30,000 )
 
      
 
        
Net Cash Provided by Operating Activities
     274,000  
 
      

 

 

The Company’s intent is to provide non-GAAP financial information to enhance investors’ understanding of the Company’s consolidated financial statements and should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP.
Item 9.01 Financial Statements and Exhibits
(a) None
(b) None
(c) None
(d) Exhibits.
     99.1 — Press Release dated November 30, 2005

 

 

Signatures
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant and Co-Registrants have duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
AIRGAS, INC.   AIRGAS EAST, INC.
  (Registrant)   AIRGAS GREAT LAKES, INC.
      AIRGAS MID AMERICA, INC.
AIRGAS NORTH CENTRAL, INC.
BY:   /s/ Robert M. McLaughlin   AIRGAS SOUTH, INC.
  Robert M. McLaughlin   AIRGAS GULF STATES, INC.
  Vice President & Controller    AIRGAS MID SOUTH, INC.
AIRGAS INTERMOUNTAIN, INC.
AIRGAS NORPAC, INC.
AIRGAS NORTHERN CALIFORNIA & NEVADA, INC.
AIRGAS SOUTHWEST, INC.
AIRGAS WEST, INC.
AIRGAS SAFETY, INC.
RUTLAND TOOL & SUPPLY CO., INC.
AIRGAS CARBONIC, INC.
AIRGAS SPECIALTY GASES, INC.
NITROUS OXIDE CORP.
RED-D-ARC, INC.
AIRGAS DATA, LLC
 
 
       
      (Co-Registrants) 
 
 
      BY:   /s/ Robert M. McLaughlin  
        Robert M. McLaughlin
Vice President 
 
      ATNL, INC.
 
       
      (Co-Registrant) 
 
 
      BY:   /s/ Melanie Andrews  
        Melanie Andrews
President 
DATED: November 30, 2005

 

EX-99.1 2 w15196exv99w1.htm PRESS RELEASE DATED NOVEMBER 30, 2005 exv99w1
 

         
(AIRGAS LOGO)
 




News Release 		  Airgas, Inc.
259 N. Radnor-Chester Road
Suite 100
Radnor, PA 19087-5283
www.airgas.com
 
 
Exhibit 99.1    
     
Investor Contact:   Media Contact:
Melissa Nigro (610) 902-6206   James Ely (610) 902-6010
melissa.nigro@airgas.com   jim.ely@airgas.com
For release:  Immediately
Airgas Announces $3.3 Billion Sales Goal for Fiscal 2008
RADNOR, PA — November 30, 2005 — Airgas, Inc. (NYSE: ARG) Chairman and Chief Executive Officer Peter McCausland today is announcing at the Company’s annual analyst meeting in Phoenix that Airgas has increased its fiscal year 2008 targets for sales and return on capital, and affirmed its target for operating margin. The company is projecting sales of $3.3 billion, 10-11% operating margins and 12% return on capital by the end of fiscal 2008.
“This fiscal year, we anticipate sales of around $2.8 billion with an operating margin of 9% to 9.5%,” commented McCausland. “We are enjoying good momentum across our business and our outlook is very strong. Our core business has been helped by the industrial economy and our strategic growth platforms of medical, specialty and bulk gases, safety products and strategic accounts are posting double-digit same-store sales.”
McCausland added, “We have many additional opportunities to grow the business by leveraging our strong distribution platform and cash flow. We are focused on the future and will pursue our goals by following a consistent strategic direction.”
Executive Vice President and Chief Operating Officer Mike Molinini commented on the strengthening pricing environment and the Company’s discipline in managing price and its gas supply chain. He also commented on plans to overlay a market focus on the product based sales organization. He said the construction market will soon follow the model currently used in the medical market, with national leadership and specialized branches and sales forces in selected areas.

 

 

Nov 30 Meeting Announcements/Page 2
Senior Vice President and Chief Financial Officer Roger Millay outlined FY06 financial expectations including:
  •   Diluted earnings per share from continuing operations of $1.50 to $1.56
 
  •   Return on capital of 11%+ and free cash flow of $80MM — $100MM
Millay noted that the FY08 expectations detailed earlier in this announcement include the following assumptions:
  •   Same-store sales in mid-single digits
 
  •   $75MM to $125MM acquired sales per year in FY07 and FY08
He also commented that the Company’s financial profile is better than ever with a multi-year trend of earnings growth and margin expansion, strong free cash generation and good flexibility in capital structure.
The presentation materials and the reconciliations for the non-GAAP financial measures presented are available on the Internet at http://www.shareholder.com/arg/slides.cfm
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical, and specialty gases, and related hardgoods, such as welding equipment and supplies. Airgas is also the third-largest U.S. distributor of safety products, the largest U.S. producer of nitrous oxide and dry ice, the largest liquid carbon dioxide producer in the Southeast, and a leading distributor of process chemicals, refrigerants and ammonia products. Its 10,000 employees work in about 900 locations including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers. Airgas also distributes its products and services through eBusiness, catalog and telesales channels. Its national scale and strong local presence offer a competitive edge to its diversified customer base. For more information, please visit www.airgas.com.

 

 

Nov 30 Meeting Announcements/Page 3
Forward-Looking Statements
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, statements regarding: the Company’s targets for fiscal 2008 sales of $3.3 billion, operating margins of 10-11%, and 12% return on capital; the Company’s expectations of fiscal 2006 sales of $2.8 billion, operating margin of 9-9.5%, diluted earnings per share from continuing operations of $1.50 to $1.56, return on capital of 11% and free cash flow of $80 million to $100 million; a strong outlook for business conditions; having opportunities to grow the business by leveraging a strong industrial distribution platform and cash flow; pursuing goals by following a consistent strategic direction; strengthening pricing environment; a new market focus approach; and same-store sales and acquired sales assumptions. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by the Company or any other person that the results expressed therein will be achieved. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include: an economic downturn; increased industry competition; adverse changes in customer buying patterns; significant fluctuations in interest rates; the ability to identify, and to successfully consummate and integrate acquisitions; political and economic uncertainties associated with current world events; and other factors described in the Company’s reports, including Form 10-K dated March 31, 2005 and Forms 10-Q dated June 30, 2005 and September 30, 2005 filed by the Company with the Securities and Exchange Commission.
###

 

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