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 …
Applied Industrial Sales Up 6% in Fiscal 2007
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.
  ;
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.
  ;
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.
  ;
Applied Industrial Technologies is an industrial distributor to MRO and OEM customers in virtually every …
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