Applied Industrial Technologies (AIT) Reports In-Line Q2 EPS
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Applied Industrial Technologies Reports Fiscal 2016 Second Quarter Results and Increases Dividend
January 28, 2016 6:30 AM ESTCLEVELAND, Jan. 28, 2016 (GLOBE NEWSWIRE) -- Applied Industrial Technologies (NYSE: AIT) today reported second quarter fiscal 2016 sales and earnings for the three months ended December 31, 2015.
Net sales for the quarter were $610.3 million, a decrease of 11.8% compared with $691.7 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 3.1% foreign currency translation impact and a 10.5% decrease in core underlying operations. This 10.5% decrease consists of a 3.8% decline attributable to sales in traditional core operations and a 6.7% decline attributable to sales by... More
