Profit for the industrial distributor fell 50.4% from first quarter fiscal year 2009.
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Latest In Applied Industrial
Industrial distributor’s master catalog now contains more than 42.000 items.
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Industrial distributor Applied Industrial Technologies, Cleveland, OH, reported fiscal 2009 sales decreased 8% to $1.9 billion from the previous year. Profit decreased to $42.3 million, down from $95.5 million in 2008.
Sales for the fourth quarter fell 19.7% to $425.2 million. Applied recorded a net loss for the period of $8 million, compared with profit of $24.4 million in the prior-year period.
Looking ahead, Applied expects most of its markets to remain soft in its fiscal 2010, and that it will continue to see competitive pricing pressures. The distributor says it has yet to see an upturn in sales …
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Applied Industrial Technologies, Cleveland, OH, has acquired Cincinnati Transmission Company, a single location, regional distributor of power transmission and motion control products as well as gearbox repair solutions in Cincinnati, OH.
Cincinnati Transmission serves a broad range of customers, primarily OEMs, with bearings, v-belts, drives, electric motors, clutches, and conveying equipment.
We’re pleased to strengthen our presence in the greater Cincinnati / northern Kentucky area with the addition of Cincinnati Transmission,” said Todd A. Barlett, vice president -Acquisitions and Global Business Development for Applied.
Applied Industrial is an industrial distributor with more than 475 facilities and 5,200 employee-associates across North …
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Applied Industrial Technologies, Cleveland, OH, reported sales for the first quarter ended Sept. 30, 2008, were up 4.9% to $543.9 million. Profit was down to $22.5 million from $24.4 million last year.
Same-store sales in the U.S. were slightly down primarily due to weak housing and automotive markets. These decreases were offset by sales increases from recent acquisitions and by growth in Applied’s Canadian business.
Our sales slowed in the quarter as we saw mixed demand within the industries we serve,” said David L. Pugh, Applied’s CEO. “Housing-related and transportation markets have slowed considerably, while energy-related markets have continued to show strength. Primary metals and food production markets are still strong for us as …
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Industrial distributor Applied Industrial Technologies, Cleveland, OH, held its fourth-quarter and 2008 year-end earnings conference on Friday. Sales in 2008 increased 3.7% to $2.1 billion from fiscal 2007. Profit rose 11% to $95 million.
End Markets
As CEO David Pugh says, anything related to housing is a problem,” and “anything related to energy is a boom situation.” According to Pugh, about half of the top 30 industries Applied serves were down, and the other half were flat to up in the past year. The distributor is seeing double-digit declines in sales to the lumber and wood products industry (about 15% of sales), as well as in transportation (4% of sales). Pugh says “some, but not all, of that sales decline was countered by strong increases in power generation, …
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Applied Industrial Technologies, Cleveland, OH, reported fiscal 2008 sales increased 3.7% to $2.1 billion from fiscal 2007. Profit rose 11% to $95 million.
In the fourth quarter, sales increased slightly to $529.7 million from the prior-year period. Profit was $24.4 million, down from $24.6 million last year.
While our financial performance was strong, we definitely saw the effect of a slowing economy during the second half of our fiscal year with only half of our top thirty industries showing positive growth,” said CEO David L. Pugh. “Our sales to the forest products industry and the transportation industry, historically strong markets for us, were especially soft.”
Applied has 459 facilities across North …
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Applied Industrial Technologies, Cleveland, OH, has made one of its largest acquisitions in the U.S. fluid power market with an agreement to buy seven distribution businesses from Fluid Power Resource LLC.
The purchase fits with Applied’s strategy to continue building out its fluid power unit, according to Warren E. Bud”Hoffner, who oversees Applied’s fluid power group.
“It’s just a great fit for Applied, and we’ve always thought that,”Hoffner told MDM. “FPR ran these companies as standalone firms in each local or regional market. That fits very well with how we’re structured.”
The last large acquisition Applied made in the U.S. fluid power market was Spencer Industries Inc., Kent, WA, a regional fluid power distributor with about $65 million in …
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Applied Industrial Technologies, Cleveland, OH, this week made one of its largest acquisitions in the U.S. fluid power market with an agreement to buy seven distribution businesses from Fluid Power Resource LLC. The purchase fits with Applied’s strategy to continue building out its fluid power unit, according to Warren E. Bud” Hoffner, who oversees Applied’s fluid power group.
“It’s just a great fit for Applied, and we’ve always thought that,” Hoffner told MDM. “FPR ran these companies as standalone firms in each local or regional market. That fits very well with how we’re structured.”
The last large acquisition Applied made in the U.S. fluid power market was Spencer Industries Inc., Kent, WA, a regional fluid power distributor with about $65 million in sales. …
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Applied Industrial Technologies, Cleveland, OH, has agreed to buy Fluid Power Resource, LLC, businesses.
The 19-location acquisition includes distributors Bay Advanced Technologies, Carolina Fluid Components, DTS Fluid Power, FluidTech, Hughes HiTech, Hydro Air, and Power Systems. The businesses together employ 455 people and had 2007 sales of $244 million.
The purchase price is $169 million in cash.
Each of the businesses will operate as a subsidiary of Applied and will maintain their current local identities. The companies will be led by Warren E. (Bud) Hoffner, who oversees Applied’s fluid power business unit. FPR companies distribute pumps, motors, valves, actuators, cylinders, manifolds, hose fittings, connectors, FRL’s, gear boxes, …
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Applied Industrial Technologies, Cleveland, OH, distributor of bearings, power transmission components, fluid power products, tools and industrial supplies, has launched its 2008/2009 catalog.
The catalog has 4,000 new products, including the debut of DeWalt tools, plus more than 20,000 bearing and power transmission parts, more than 9,000 fluid power products, and an enhanced 48-page Technical Reference section that includes formulas, conversion tables, fluid power troubleshooting information and more.
The catalog includes product lines for MRO and fluid power systems, including:
- Bearings
- Power Transmission
- Pneumatic &Hydraulic Products
- …
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Cleveland, OH-based Applied Industrial Technologies reported third-quarter sales were up 1.7% to $530.1 million from the prior-year period. Profit for the quarter was up 8.7% to $23.6 million.
For the nine months ended March 31, 2008, sales increased 5% to $1.6 billion. Profit increased 15.7% to $71 million.
Sales during the quarter were impacted by the continued deterioration of the housing and the automotive markets, and this weakness appears to be migrating into other sectors as consumers and businesses are becoming a bit more anxious about the economy,” said David L. Pugh, CEO. “While we do not expect significant economic improvement during the fourth quarter, based on our results to date and the continued strength in our operational controls, we expect …
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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 …
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Applied Industrial Technologies, Cleveland, OH, has acquired VYCMEX S.A. de C.V., headquartered in Monterrey, Mexico. It is a fluid power distributor with more than 70 employees.
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VYCMEX operates five service centers in Monterrey, Mexico City, Veracruz and San Luis Potosi. It will operate as a wholly-owned subsidiary of Applied Mexico Holdings S.A. de C.V.
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The acquisition of VYCMEX gives Applied substantial expertise and capabilities in fluid power products and systems in Mexico,” said Todd A. Barlett, Vice President -Acquisitions and Global Business Development for Applied.  ; “We can now provide a total product solution for Mexican industries that covers a broad range of hydraulics, pneumatics, bearings, power transmission and general industrial …
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Applied Industrial Technologies, Cleveland, OH, reported that for its fiscal 2008 first quarter ended Sept. 30, profit rose by 15.8% and sales rose 5.3%.
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Sales for the first quarter increased to $518.5 million. Profit was $24.5 million.
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Commenting on the performance, Applied Chairman & Chief Executive Officer David L. Pugh said: The demand for our products continued to grow in keeping with our economic expectations.  ; While the slowdown in the housing market affected some of our customers, maintenance and repair part sales to manufacturing customers were strong.”
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Applied is an industrial distributor with more than 445 facilities and 4,600 employees in North America. For its fiscal year ended June 30, 2007, Applied posted sales of $2 …
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Applied Industrial Technologies, Cleveland, OH, reported sales for its fiscal year ended June 30, 2007, increased 6% to $2 billion. Profit for the year rose 19% to $86 million, versus $72 million in the prior year.
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Sales for the fourth quarter were up 4.7% to $528 million from the prior-year period. Profit increased 22.2% to $24.6 million.
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Applied reported that the housing industry slump has had an impact on some of its related markets; the sluggish performance” by the automobile manufacturing sector also negatively impacted the distributor’s performance.
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Applied Industrial Technologies is an industrial distributor to MRO and OEM customers in virtually every …
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Applied Industrial Technologies, Cleveland, OH, distributor of bearings and related products, has combined its Applied Maintenance America and Fluid Power Connection catalogs, as well as added more than 10,000 new and expanded products. The catalog will be available in July 2007 and can be reserved online at www.applied.com/catalogrequest.
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Applied said it combined the two catalogs in response to requests from customers to provide a one-stop source for the MRO parts that Applied supplies. The 07/08 Applied Industrial Technologies Product Catalog offers nearly 40,000 parts from more than 100 suppliers, including 20,000 bearings and power transmission parts and almost 9,000 fluid power products.
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The new Applied catalog includes comprehensive product lines …
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Applied Industrial Technologies, Cleveland, OH, reported sales increased 4.8% to $521.1 million in the third quarter 2007 ended March 31, 2007. Profit was up 14%.
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For the nine-month period ended March 31, sales were up 6.4% to $1.486 billion. Profit was up 21%.
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With more than 440 facilities and 4,600 employee-associates across North America, Applied Industrial Technologies is an industrial distributor that offers more than 2 million parts to MRO and OEM customers.  ; For its fiscal year ended June 30, 2006, Applied posted sales of $1.9 billion.  …
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Applied Industrial Technologies announced that Bill L. Purser, president and COO, will retire effective Dec. 31, 2007. Purser, 63, has been president since October 2000.
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Ben J. Mondics, 48, will be promoted to president following Purser’s departure. Mondics, effective Feb. 1, will be promoted to COO.
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Mondics is currently Applied’s Area Vice President – Midwest Area, where he oversees nine regions and 86 service centers in 11 states. The Midwest sales area is the largest of the company’s five geographic divisions. Mondics has been with Applied since 1994.
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More Breaking …
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Applied Industrial Technologies, Cleveland, OH, reported sales increased 4% in the second quarter 2007 to $472.36 million. Profit grew 21% to $18.5 million.
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For the six months ended Dec. 31, 2006, sales increased 7% to $964.9 million from $899.3 million in the same period last year. Profit was up 23% to $39.7 million.
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Applied CEO David Pugh said: Although our sales growth was softer than we expected, we believe the economic outlook suggests continued growth through our fiscal year.  ; We are actively managing our business and are working to keep costs in line with the slower pace of the economy. Based on the current state of the industrial economy, and with six months of results under our belt, we now expect our year-end sales to …
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