Applied Industrial Technologies, Inc. Reports Earnings Results for the Third Quarter Ended March 31, 2021
April 29, 2021 at 09:18 am EDT
Share
Applied Industrial Technologies, Inc. announced earnings results for the third quarter ended March 31, 2021. For the third quarter, the company announced sales was USD 840.937 million compared to USD 830.797 million a year ago. Operating income was USD 74.467 million compared to operating loss of USD 77.950 million a year ago. Net income was USD 56.063 million compared to net loss of USD 82.777 million a year ago. Basic earnings per share from continuing operations was USD 1.44 compared to basic loss per share from continuing operations of USD 2.14 a year ago. Diluted earnings per share from continuing operations was USD 1.42 compared to diluted loss per share from continuing operations of USD 2.14 a year ago. For the nine months, sales was USD 2,340.031 million compared to USD 2,520.576 million a year ago. Operating income was USD 124.353 million compared to USD 41.961 million a year ago. Net income was USD 85.513 million compared to net loss of USD 5.947 million a year ago. Basic earnings per share from continuing operations was USD 2.21 compared to basic loss per share from continuing operations of USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 2.18 compared to diluted loss per share from continuing operations of USD 0.15 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. 
