Applied Industrial Q4 Profit Declines, Revenue Up 3.5% - Quick Facts

(RTTNews) - Applied Industrial Technologies (AIT) Wednesday said fourth-quarter net income declined to $28.0 million, or $0.70 per share from $29.7 million, or $0.71 per share in the comparable quarter last year.

On average, 8 analysts polled by Thomson Reuters expected earnings of $0.73 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 3.5 percent to $677.54 million from $654.62 million in the same quarter a year ago. Analysts expected revenues of $683.60 million.

For the full fiscal 2016, the company expects earnings per share for the full fiscal year to be in the range of $2.80 to $3.05 per share and sales change in the range of negative 2% to up 1%. Analysts currently expect fiscal 2016 earnings of $2.98 per share.