Applied Industrial Technologies (AIT) Reports In-Line Q4 EPS

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Applied Industrial Technologies Reports Fiscal 2016 Fourth Quarter and Year-End Results

August 12, 2016 6:30 AM EDT

CLEVELAND, Aug. 12, 2016 (GLOBE NEWSWIRE) -- Applied Industrial Technologies (NYSE: AIT) today reported results for its fourth quarter and fiscal 2016 year ended June 30, 2016.

Net sales for the quarter were $634.0 million, a decrease of 6.4% compared with $677.5 million in the same quarter a year ago. The overall sales decrease for the quarter reflects a 2.4% increase from acquisition-related volume, offset by a 7.6% decrease in our underlying operations and a negative 1.2% foreign currency translation impact. Of the 7.6% decrease in underlying operations, 3.9% is attributable to sales in traditional core operations with the remainder... More