Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, No. 11 on MDM's 2015 list of the top industrial distributors, reported sales for the first quarter ended September 30 of $641.9 million, a decrease of 8.6 percent compared to the same period a year ago.
Profit decreased 16.6 percent to $24.3 million.
“Our first quarter results reflect the continued impact of reduced demand in many industrial end markets, most notably oil and gas, as well as headwinds from foreign currency translation," said Neil A. Schrimsher, president & CEO.
