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Last $45.34 USD
Change Today +0.98 / 2.21%
Volume 491.7K
AIT On Other Exchanges
As of 8:04 PM 03/31/15 All times are local (Market data is delayed by at least 15 minutes).

applied industrial tech inc (AIT) Snapshot

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52 Week High
07/7/14 - $52.62
52 Week Low
01/21/15 - $39.76
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Average Volume 10 Days
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applied industrial tech inc (AIT) Details

Applied Industrial Technologies, Inc. distributes industrial products for maintenance, repair, and operational needs, as well as for original equipment manufacturing applications primarily in the United States, Canada, Mexico, Australia, and New Zealand. It operates through Service Center Based Distribution and Fluid Power Businesses segments. The company offers bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and other industrial and maintenance supplies; and fluid power products, such as hydraulic, pneumatic, lubrication, and filtration components and systems. It also operates fabricated rubber shops, which modify and repair conveyor belts and make hose assemblies; and rubber service field crews to install and repair belts and rubber linings at customer locations. In addition, the company assembles fluid power systems and components; performs equipment repair; offers technical advice to customers; and provides maintenance training, and inventory and storeroom management solutions. It serves various industries, including agriculture and food processing, automotive, chemicals and petrochemicals, fabricated metals, forest products, industrial machinery and equipment, mining, oil and gas, primary metals, transportation, and utilities, as well as government entities. The company offers industrial products through a network of service centers; and fluid power products directly to customers. Applied Industrial Technologies, Inc. was founded in 1923 and is headquartered in Cleveland, Ohio.

5,990 Employees
Last Reported Date: 02/4/15
Founded in 1923

applied industrial tech inc (AIT) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $795.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $438.0K
Vice President, General Counsel and Secretary
Total Annual Compensation: $376.7K
Vice President of Acquisitions & Global Busin...
Total Annual Compensation: $320.0K
Compensation as of Fiscal Year 2014.

applied industrial tech inc (AIT) Key Developments

Applied Industrial Technologies, Inc. Announces Ending of Employment of Carl E. Will as Chief Commercial Officer

Applied Industrial Technologies, Inc. announced that the employment of Carl E. Will, Chief Commercial Officer, with the company, ended effective February 3, 2015.

Applied Industrial Technologies, Inc. Declares Quarterly Cash Dividend, Payable on February 27, 2015

The Board of Directors of Applied Industrial Technologies, Inc. declared an 8% increase in the quarterly cash dividend to $0.27 per common share. The dividend is payable on February 27, 2015, to shareholders of record on February 13, 2015.

Applied Industrial Technologies, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014; Provides Earnings Guidance for the Second Half of Fiscal 2015

Applied Industrial Technologies, Inc. reported consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported net sales of $691,702,000 against $581,949,000 a year ago. Operating income was $46,807,000 against $39,837,000 a year ago. Income before income taxes was $44,472,000 against $40,259,000 a year ago. Net income was $29,707,000 against $25,909,000 a year ago. Basic and diluted earnings per share were $0.72 against diluted earnings per share of $0.61 a year ago. Cash generated from operating activities was $19.3 million for the second quarter compared to $15.7 million in the prior year quarter. For the six months, the company reported net sales of $1,394,027,000 against $1,187,254,000 a year ago. Operating income was $92,972,000 against $79,376,000 a year ago. Income before income taxes was $88,731,000 against $80,828,000 a year ago. Net income was $58,829,000 against $52,753,000 a year ago. Diluted earnings per share were $1.41 against $1.24 a year ago. Net cash provided by operating activities was $1,173,000 against $32,663,000 a year ago. Property purchases were $7,806,000 against $4,126,000 a year ago. For the second half of fiscal 2015, the company is narrowing full-year guidance range for earnings per share to between $2.95 and $3.10 per share, on a sales increase of 13% to 15%. The company expects its tax rate for the remaining two quarters of fiscal 2015 will be around 34.0% to 34.5%. The company expects cash provided from operating activities to be greater than its annual net income amount.


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