Applied Industrial Technologies earnings up
Applied Industrial Technologies reported that third quarter fiscal 2012 sales increased 7.0% to $605.5 million.
Net income for the quarter increased 10.9% to $29.4 million, or 69 cents per share, compared to $26.5 million, or 61 cents per share, last year.
For the nine months ended March 31, sales increased 8.2% to $1.76 billion from $1.62 billion in the same period last year. Net income increased 12.0% to $76.7 million, or $1.79 per share, compared to $68.5 million, or $1.58 per share, last year.
"We had solid business performance in the third quarter, continuing our sound operating discipline and focus on operational excellence," said chief executive officer Neil A. Schrimsher. "Entering the final quarter of our fiscal year, we are operating in an active industrial economic environment. We are maintaining our full fiscal 2012 sales guidance of $2.35 billion to $2.45 billion, and we are narrowing our earnings per share guidance to between $2.45 and $2.55 per share."
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
