Applied Industrial fiscal third-quarter profit exceeds expectations

NAW SmartBrief 04/29/2009

Applied Industrial Technologies posted a profit of $11.6 million for the fiscal third quarter compared with $23.6 million for the third quarter of last year. The industrial-parts distributor's earnings per share of 27 cents exceeded analysts' expectations of 24 cents a share. "Sales generation and margin management will continue to be our greatest challenges for the near term as our customers respond to significant consumer withdrawal," CEO David Pugh said. Reuters (04/23) Plain Dealer (Cleveland), The (04/23)

http://www.smartbrief.com/news/naw/storyDetails.jsp?issueid=0BCA0F88-F165-42BB-8619-91DE99FC609B&copyid=441D239D-890C-429B-9FE9-11B86A46E78B