Industrial distributor Applied Industrial Technologies, Cleveland, OH, reported sales increased 8.2% to $511 million in the 2008 second quarter ended Dec. 31, 2007. Profit was up 23.7%.
Year-to-date, sales were up 6.7% to $1.02 billion, and profit was up 19.5% to $47.4 million.
During the quarter, we saw business conditions that were mixed,” said Applied CEO David L. Pugh. “Our sales to customers in housing-related industries continued to be impacted by the housing downturn. Sales to other industries such as metal mining and food production were very strong. Several economic indices we follow point to a slowing economy, and as a result, we expect the second half to be more challenging with regard to sales growth.”
For its fiscal year ended June …
Applied Industrial Sales Up 6.7% in First Half
Industrial distributor Applied Industrial Technologies, Cleveland, OH, reported sales increased 8.2% to $511 million in the 2008 second quarter ended Dec. 31, 2007. Profit was up 23.7%.
Year-to-date, sales were up 6.7% to $1.02 billion, and profit was up 19.5% to $47.4 million.
During the quarter, we saw business conditions that were mixed,” said Applied CEO David L. Pugh. “Our sales to customers in housing-related industries continued to be impacted by the housing downturn. Sales to other industries such as metal mining and food production were very strong. Several economic indices we follow point to a slowing economy, and as a result, we expect the second half to be more challenging with regard to sales growth.”
For its fiscal year ended June …
Share this article
- Filed In: Companies, Free, News, Subscriber Only, Top Distributor Sectors
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
