Industrial distributor Applied Industrial Technologies (NYSE: AIT), Cleveland, Ohio, reported sales of $882.7 million in its fiscal fourth quarter ended June 30, a decrease of 1.7% compared with the same quarter a year ago. Net income for the quarter was $39.8 million, compared with $40.4 million in the fourth quarter of fiscal 2018.
Applied reported full-year sales of $3.5 billion, up 13% compared to a year ago. Net income for the year was $144 million compared with $141.6 million in the prior-year period.
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Fourth quarter sales were up 2% year-over-year.
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Profit was $34.4 million compared to $42 million in 2019.
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For the fourth quarter, sales were $84.2 million, a 19% increase year-over-year.
