Applied Industrial Technologies, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2018
January 24, 2019 at 11:30 am
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Applied Industrial Technologies, Inc. announced earnings results for the second quarter ended December 31, 2018. For the second quarter, the company announced sales was USD 840.038 million compared to USD 667.187 million a year ago. Operating income was USD 60.965 million compared to USD 46.715 million a year ago. Net income was USD 38.717 million compared to USD 30.950 million a year ago. Basic earnings per share was USD 1 compared to USD 0.8 a year ago. Diluted earnings per share was USD 0.99 compared to USD 0.79 a year ago. For the half year, sales was USD 1,704.553 million compared to USD 1,347.888 million a year ago. Operating income was USD 127.304 million compared to USD 98.552 million a year ago. Net income was USD 87.655 million compared to USD 64.671 million a year ago. Basic earnings per share was USD 2.26 compared to USD 1.67 a year ago. Diluted earnings per share was USD 2.23 compared to USD 1.65 a year ago.
Applied Industrial Technologies, Inc. is a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. The Companyâs segments include Service Center Based Distribution and Engineered Solutions. The Service Center Based Distribution segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Its products include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses. The Engineered Solutions segment includes its operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services.
APPLIED INDUSTRIAL TECHNOLOGIES, INC. 
