The 2020 Mid-Year Economic Update_long

Applied Industrial Technologies Sales Up 11.9% in Fiscal 2015

Fourth quarter sales increased 3.5 percent year-over-year.

Industrial distributor Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, reported sales for the fiscal year 2015 of $2.8 billion, up 11.9 percent year-over-year. Profit decreased 2.4 percent to $115.5 million.

For the fiscal fourth quarter ended June 30 sales were $677.5 million, an increase of 3.5 percent over the same period a year ago. Profit decreased 5.5 percent to $28 million.

"While the current industrial economy presents some challenges, we know we have growth opportunities with current and new customers," said Neil A. Schrimsher, president & CEO. "We are pleased with the recent acquisition of Atlantic Fasteners – a nice addition that builds on our Maintenance Supplies & Solutions? platform."

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