Applied Industrial Technologies Inc. (AIT) reported fiscal fourth-quarter earnings of $118.6 million. The Cleveland-based company said it had profit of $3.17 per share. The results surpassed Wall Street expectations.
The industrial products company posted revenue of $1.35 billion in the period, which also topped Street forecasts. For the year, the company reported profit of $414.5 million, or $10.95 per share. Revenue was reported as $4.97 billion.
Original reporting: Alexandria, VA News – WTOP News — read the source article.