CLEVELAND (AP) — CLEVELAND (AP) — Applied Industrial Technologies Inc. (AIT) on Thursday reported fiscal fourth-quarter profit of $92.2 million.
On a per-share basis, the Cleveland-based company said it had net income of $2.35.
The industrial products company posted revenue of $1.16 billion in the period.
For the year, the company reported profit of $346.7 million, or $8.84 per share. Revenue was reported as $4.41 billion.
Applied Industrial Technologies expects full-year earnings to be $8.80 to $9.55 per share.
Applied Industrial Technologies shares have risen 13% since the beginning of the year. The stock has increased 37% in the last 12 months.
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, source Associated Press News