Applied Industrial Technologies, Inc. announced consolidated earnings results for second quarter and six months ended December 31, 2011. Net sales for the second quarter increased 7.7% to $570,397,000 from $529,517,000 in the comparable period a year ago. Net income for the quarter was $20,935,000 or $0.49 per diluted share compared to $21,193,000 or $0.49 per diluted share last year. Earnings for the quarter were reduced by $4.4 million (pre-tax), or $0.07 per share, due to one-time costs resulting from two items. Operating income for the second quarter of fiscal 2012 was $33,335,000 against $33,056,000 for the same period a year ago. Income before income taxes for the second quarter of fiscal 2012 was $32,547,000 against $33,019,000 for the same period a year ago. Total capital expenditures related to ERP included in property additions for the second quarter were $4.8 million. For the six months ended December 31, 2011, sales were $1,149,971,000 compared to $1,057,018,000 in the same period last year. Net income was $47,317,000 or $1.11 per share compared to $41,948,000 or $0.97 per share, last year. Operating income for the six months of fiscal 2012 was $76,602,000 against $67,947,000 for the same period of prior year. Income before income taxes for the six months of fiscal 2012 was $73,835,000 against $67,129,000 for the same period of previous year. For the six months of fiscal 2012, net cash provided by operating activities was $30,216,000 against $19,966,000 for the same period of previous year. For the six months of fiscal 2012, property purchases were $14,022,000 against $13,804,000 for the same period of prior year. The company also reported that it is maintaining its full fiscal 2012 guidance for earnings per share between $2.40 and $2.55, on expected sales of $2.35 billion to $2.45 billion. The company is forecasting additional capital expenditures of between $9 million and $11 million for the remainder of the fiscal year. The company tax rate for the remainder of fiscal 2012 to be in the 35% to 36% range.