For the full year, Applied Industrial Technologies’ total 2021 fiscal sales were $3.24 billion, a decrease of 0.3% compared to last year.
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After sales increase in the third quarter, Applied Industrial Technologies’ CEO is predicting an even better fourth quarter.
Like most companies, Applied continued to be impacted by the COVID-19 crisis and saw year-to-date sales fall 11.3% over the same period in 2019.
Applied’s addition of Massachusetts-based Gibson Engineering Company Inc. should boost distributor’s automation offering.
Applied Industrial Technologies hopes to grow revenue 40% to $4.5 billion in the coming years, and M&A will not surprisingly play a huge role in that ambitious pursuit. Here’s what company leaders said about their acquisition strategy moving forward.
Tough times continued for Applied Industrial Technologies in the company’s fiscal first quarter; the company’s sales dipped 12.7% and profit fell 10.3%.
Applied Industrial Technology's latest addition will help expand the company’s automation offering as well as its geographic reach in the Southeast U.S.
August has brought some more good news to the U.S. economy in general and distribution in general based on the latest round of data reports showing continued momentum, but the industry has plenty of work yet to complete.
Market conditions weren’t favorable for Applied Industrial Technologies Inc. in the fiscal fourth quarter, but the distributor navigated the COVID-plagued business landscape as well as possible thanks to cost-reduction measures it will extend into 2021.
Like most companies, Applied was impacted in the period by the COVID-19 crisis and saw fourth-quarter sales fall 17.9% over the same period in 2019.
Fourth quarter sales fell 1.7% over 2018.
The business will continue to operate under the Olympus Controls name.
Sales increased 19% during the first nine months.
Ryan Cieslak joins Applied from Northcoast Research.
Companys fiscal second-quarter 2019 sales rise 26 percent to $840 million.
The business will continue to operate under the Fluid Power Sales name.
Distributor reports strong fiscal first quarter, citing double-digit acquisition-related growth.
Company reports strong fourth quarter and full year ended June 30, boosted by FCX acquisition.
