Applied Industrial Technologies, Cleveland, OH, has been named one of the Best Big Companies in America on Forbes magazine's 2005 Platinum 400 List. Ranked 132nd overall, this is the second year that Applied has been named to the list. Applied was ranked 165th on the 2004 listing. The complete Platinum 400 List is available online at www.forbes.com/platinum400.
Culled from 1,000 of the largest publicly traded companies in America, the listing ranks companies on the basis of long- and short-term sales and earnings performance, measuring profitability and growth over a five-year period. In addition, they consider accounting and governance practices, financial condition and earnings quality. Forbes has published the Platinum 400 list for the past seven years.
"Providing a solid financial performance for our shareholders is equally as important as providing the products and services our customers need," said David L. Pugh, chairman and CEO for Applied. "As such, we're especially honored and pleased to be recognized by Forbes as one of the best financially managed companies in the country."
With 430 facilities and 4,300 employee-associates acrossNorth America, Applied Industrial Technologies is an industrial distributor that offers two million parts critical to the operations of MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. For its fiscal year ended Jun. 30, 2004, Applied posted sales of $1.52 billion.