Applied Industrial Technologies Earnings: Everything You Must Know Now

Applied Industrial Technologies, Inc. (NYSE:AIT) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

Applied Industrial Technologies, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 1.33% to $0.76 in the quarter versus EPS of $0.75 in the year-earlier quarter.

Revenue: Rose 3.3% to $640.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Applied Industrial Technologies, Inc. reported adjusted EPS income of $0.76 per share. By that measure, the company met the mean analyst estimate of $0.76. It missed the average revenue estimate of $649.73 million.

Quoting Management: Applied’s Chief Executive Officer Neil A. Schrimsher said, “We marked the Company’s 90th year of strength in distribution with a record performance in fiscal 2013. Despite some macroeconomic headwinds that moderated sales growth for most of the year, our consistent operating discipline enabled us to translate 3.7% sales growth into a 9.4% increase in earnings per share and a 7.2% operating margin, up from 7.1% last year. Shareholders’ equity increased 13.0% to $759.6 million compared with $672.1 million at the prior year’s end.”

Key Stats (on next page)…