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Applied Industrial Technologies Inc (AIT.N)

AIT.N on New York Stock Exchange

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Applied Industrial Technologies Reports Fiscal 2019 Second Quarter Results
Thursday, 24 Jan 2019 

Jan 24 (Reuters) - Applied Industrial Technologies Inc ::APPLIED INDUSTRIAL TECHNOLOGIES REPORTS FISCAL 2019 SECOND QUARTER RESULTS.Q2 EARNINGS PER SHARE $0.99.Q2 SALES $840 MILLION VERSUS REFINITIV IBES ESTIMATE OF $853 MILLION.Q2 EARNINGS PER SHARE ESTIMATE $1.06 -- REFINITIV IBES DATA.FULL-YEAR GUIDANCE REVISED TO REFLECT CURRENT BUSINESS CONDITIONS.QUARTERLY DIVIDEND INCREASED TO $0.31 PER SHARE.SAYS FULL-YEAR GUIDANCE REVISED TO REFLECT CURRENT BUSINESS CONDITIONS."EXPERIENCE SOME DECELERATION AS WE PROGRESSED THROUGH QUARTER".SEES FULL-YEAR FISCAL 2019 SALES INCREASE OF 12.5% TO 15.0%.SEES FY 2019 EARNINGS PER SHARE $4.45 TO $4.65."SIGNIFICANTLY WEAKER SALES IN FINAL WEEK OF CALENDAR YEAR".EXPERIENCED AN ADVERSE IMPACT ON MARGINS FROM A LIFO INVENTORY CHARGE IN QUARTER.FY2019 EARNINGS PER SHARE VIEW $4.77 -- REFINITIV IBES DATA.  Full Article