CLEVELAND (AP) — CLEVELAND (AP) — Applied Industrial Technologies Inc. (AIT) on Wednesday reported fiscal second-quarter net income of $93.3 million.
The Cleveland-based company said it had net income of $2.39 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.
The industrial products company posted revenue of $1.07 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.08 billion.
Applied Industrial Technologies expects full-year earnings to be $9.65 to $10.05 per share.
Applied Industrial Technologies shares have risen slightly more than 5% since the beginning of the year. The stock has risen 41% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIT at https://www.zacks.com/ap/AIT
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