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Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, reported sales for the second quarter ended Dec. 31, 2012, of $589.5 million, up 3.4 percent over the same period a year ago. Profit increased 29 percent to $27 million.
For the six months ended Dec. 31, 2012, sales were $1.2 billion, up 4.4 percent year-over-year. Profit increased 19.6 percent to $56.6 million.
"While some of the recent macroeconomic headwinds will continue as we move into the second half of our fiscal year, we remain optimistic about the overall North American industrial economy for calendar 2013," CEO Neil A. Schrimsher said. "We are focused on driving operating performance in the current environment and implementing programs that support our long-range strategic plan for growth and profitability – organically, via acquisition and through our technology investments."