Applied Industrial Technologie (AIT)

Applied Industrial Technologies, Inc. distributes various industrial products in North America. The company distributes bearings, power transmission components, industrial rubber products, linear components, tools, safety products, general maintenance products, and various mill supply products, as well as fluid power products, such as hydraulic, pneumatic, lubrication, and filtration components and systems. It also operates regional fabricated rubber shops, which modify and repair conveyor belts and make hose assemblies in accordance with customer requirements; and rubber service field crews to install and repair belts and rubber linings at customer locations. In addition, the company assembles fluid power systems, performs equipment repairs, and offers technical advices to firms, which purchase for maintenance, repair, and operations needs, as well as for original equipment manufacturing applications. Applied Industrial Technologies sells its products to various industries, including agriculture and food processing, automotive, chemical processing, forest products, industrial machinery and equipment, mining, primary metals, transportation, and utilities, as well as to government agencies. It offers industrial products through a network of service centers; and sells fluid power products directly to customers. The company was founded in 1923 and is headquartered in Cleveland, Ohio.

For the three months ended 30 September 2006, Applied Industrial Technologies, Inc.'s revenues increased 11% to $492.6M. Net income increased 25% to $21.1M. Revenues reflect higher turnover due to acquisition of businesses and increased sales in service center based distribution segment & other businesses. Net income also reflect improved gross margin, a decrease in net interest expenses and higher other income.