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Applied Industrial Technologies: Fiscal 3Q Earnings Snapshot

CLEVELAND (AP) _ Applied Industrial Technologies Inc. (AIT) on Friday reported fiscal third-quarter earnings of $16.5 million.

On a per-share basis, the Cleveland-based company said it had profit of 42 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.16 per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The industrial products company posted revenue of $885.4 million in the period.

Applied Industrial Technologies expects full-year earnings in the range of $4.50 to $4.60 per share.

Applied Industrial Technologies shares have increased 14 percent since the beginning of the year. The stock has declined 13 percent 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