Brief: Applied Industrial Technologies Reports Fiscal 2019 Second Quarter Results

Applied Industrial Technologies

24/01/2019 11:40

Jan 24 (Reuters) - Applied Industrial Technologies Inc
 AIT.N :
    * 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

Source text for Eikon:  ID:nGNX3SLRm8 
Further company coverage:  AIT.N 

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