Applied Industrial Technologies (AIT) Raises Quarterly Dividend 3.6% to $0.29; 1.8% Yield
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Applied Industrial Technologies Reports Fiscal 2017 Second Quarter Results and Increases Dividend
January 26, 2017 6:30 AM ESTCLEVELAND, Jan. 26, 2017 (GLOBE NEWSWIRE) -- Applied Industrial Technologies (NYSE: AIT) today reported second quarter fiscal 2017 sales and earnings for the three months ended December 31, 2016.
Net sales for the quarter were $608.1 million, a decrease of 0.4% compared with $610.3 million in the same quarter a year ago. The overall sales decrease for the quarter is impacted by one less selling day which accounts for a 1.6% decline and unfavorable foreign currency translation of 0.5%, partially offset by a 1.3% increase from acquisition-related volume and 0.4% organic growth. Net income for the quarter was $24.1 million, or $0.61... More
