Applied Industrial Tech (AIT) Misses Q3 EPS by 5c
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Applied Industrial Technologies Reports Fiscal 2016 First Quarter Results and Declares Dividend
October 28, 2015 6:30 AM EDTCLEVELAND, Oct. 28, 2015 (GLOBE NEWSWIRE) -- Applied Industrial Technologies (NYSE: AIT) today reported first quarter fiscal 2016 sales and earnings for the three months ended September 30, 2015.
Net sales for the quarter were $641.9 million, a decrease of 8.6% compared with $702.3 million in the same quarter a year ago. The overall sales decrease for the quarter reflects a 1.8% increase from acquisition-related volume offset by a negative 3.2% foreign currency translation impact and a 7.2% decrease in core underlying operations. This 7.2% decrease consists of a 2.3% decline in traditional core operations along with a 4.9% decrease attributable to sales from the... More
