Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, No. 9 on MDM's 2013 list of the top industrial distributors, reported sales for the first quarter ended September 30 of $605.3 million, a decrease of 0.9 percent compared to the same period a year ago.
Profit decreased 9.2 percent to $26.8 million.
Applied President and CEO Neil A. Schrimsher said weak industrial demand continued during the quarter. "Our earnings in the quarter were impacted by the lower volume along with our continued strategic investments across the service centers, fluid power businesses and Applied MSS."