Subscribe to MDM Now.
Need Help?
(888) 742-5060

In The News:

Applied Industrial Technologies Sales Up 7% in FY2012

Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, reported fiscal fourth quarter sales of $620 million, up 5 percent from the comparable period a year ago. Profit for the company, No. 2 on MDM's list of top power transmission and bearings distributors,  increased 13 percent to $32 million, for the quarter ended June 30, 2012.

Full-year sales were $2.4 billion, 7 percent above 2011 fiscal year results. Profit increased 12 percent to $108.8 million.

 “We were active on the acquisition front during the year, completing three strategic acquisitions in Eastern Canada. In addition, and subsequent to our fiscal year-end, we finalized the purchase of SKF Distribution in Australia and New Zealand as announced last week,” said CEO Neil A. Schrimsher.

Copyright ©2014

Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit www.mdm.com/reprints. MDM welcomes inbound links from your site. Please cite Modern Distribution Management.

Partner Center