Applied Industrial Technologies (NYSE: AIT), Cleveland, OH, reported sales for the fiscal year ended June 30 of $2.5 billion, an increase of 3.7 percent compared to fiscal 2012. Profit increased 8.6 percent to $118.1 million.
Sales for the fourth quarter were $640.5 million, an increase of 3.3 percent compared to the same period a year ago. Profit increased 0.7 percent to $32.3 million.
"Moving into fiscal 2014, we remain optimistic about the general industrial economy for the balance of 2013 and anticipate further economic improvements throughout calendar 2014,” CEO Neil A. Schrimsher said.
Applied ranked No. 9 on MDM’s 2013 list of the top industrial distributors.
