Applied Industrial Technologies (AIT) Releases Earnings Results, Reports EPS of $0.61 EPS

Applied Industrial Technologies (AIT) reported quarterly earnings results on Thursday, Apr-28-2016. The company reported $0.61 EPS for the quarter. Analysts had a consensus estimate of $0.61. The company posted revenue of $633.20 million in the period, compared to analysts expectations of $620.08 million. The company’s revenue was down -6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

Applied Industrial Technologies opened for trading at $45.65 and hit $46.09 on the upside on Wednesday, eventually ending the session at $45.85, with a gain of 0.72% or 0.33 points. The heightened volatility saw the trading volume jump to 1,64,088 shares. Company has a market cap of $1,800 M.

In a different news, on Nov 5, 2015, Peter C Wallace (director) sold 1,885 shares at $43.10 per share price. According to the SEC, on Aug 17, 2015, L Thomas Hiltz (director) sold 7,131 shares at $40.23 per share price. On Feb 2, 2015, Vincent K Petrella (director) purchased 2,500 shares at $40.69 per share price, according to the Form-4 filing with the securities and exchange commission.

Applied Industrial Technologies Inc. is a distributor and supplier of industrial products. The Company’s industry products including bearings power transmission components fluid power components and systems industrial rubber products linear motion components tools safety products and other industrial and maintenance supplies. The Company provides engineering design and systems integration for industrial and fluid power applications as well as customized mechanical fabricated rubber and fluid power shop services. The Company operates in two segments: service center-based distribution and fluid power businesses. Service center-based distribution provides customers with a range of industrial products through a network of service centers. Fluid power businesses consist of regional companies that distribute fluid power components and operate shops to assemble fluid power systems and perform equipment repair.

Applied Industrial Technologies

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