Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, reported sales in its fiscal 2011 year ended June 30, 2011, were $2.2 billion, up 16.9 percent from fiscal 2010. Profit for the year was $96.7 million.
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Applied is No. 10 on MDM's list of the top 40 industrial distributors.
Fourth-quarter sales for the industrial distributor were up 12.8 percent to $589.8 million. Profit for the quarter was $28.5 million.
Applied reported that it expects sales to continue improving, although at a slower pace due to "tougher comparables and a weaker industrial economy."
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