Applied Industrial Technologies, Inc. Reports Earnings Results for the First Quarter Ended September 30, 2020
October 28, 2020 at 06:30 am EDT
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Applied Industrial Technologies, Inc. announced earnings results for the first quarter ended September 30, 2020. For the first quarter, the company announced sales was USD 747.807 million compared to USD 856.404 million a year ago. Operating income was USD 52.308 million compared to USD 61.166 million a year ago. Net income was USD 34.784 million compared to USD 38.799 million a year ago. Basic earnings per share from continuing operations was USD 0.9 compared to USD 1 a year ago. Diluted earnings per share from continuing operations was USD 0.89 compared to USD 1 a year ago.
Applied Industrial Technologies, Inc. is a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. The Companyâs segments include Service Center Based Distribution and Engineered Solutions. The Service Center Based Distribution segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Its products include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses. The Engineered Solutions segment includes its operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services.
APPLIED INDUSTRIAL TECHNOLOGIES, INC. 
