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Operator Welcome to the Fiscal 2021 Second Quarter Earnings Call for Applied Industrial Technologies. My name is Mariama, and I ll be your operator for today s call. [Operator Instructions] I will now turn the call over to Ryan Cieslak, Director of Investor Relations and Treasury. Ryan, you may begin. Ryan D. Cieslak Director of Investor Relations and Treasury Thanks, Mariama, and good morning to everyone on the call. This morning, we issued our earnings release and supplemental investor deck detailing our second quarter results. Both of these documents are available in the Investor Relations section of applied.com. Before we begin, just a reminder, we ll discuss our business outlook and make forward-looking statements. All forward-looking statements are based on current expectations, subject to certain risks, including the potential impact from the COVID-19 pandemic as well as trends and sectors and geographies, the success of our business strategy and ....
Applied Industrial’s 2Q Sales Down 9.9% Like most companies, Applied continued to be impacted by the COVID-19 crisis and saw year-to-date sales fall 11.3% over the same period in 2019. Author Applied Industrial Technologies (NYSE: AIT), Cleveland, Ohio, on Thursday reported sales for the fiscal second quarter ended Dec. 31 of $751.3 million, a decrease of 9.9% compared with the same quarter a year ago. Sales were down 10.5% on an organic basis. The company reported a loss in the quarter of 5.3 million, compared with a profit of $38 million in the second quarter of fiscal 2020. “While general economic uncertainty remains, underlying sales improvement has continued into January with organic sales month to date down by a mid-single digit percent year over year,” said Neil A. Schrimsher, Applied’s president CEO. “We have multiple catalysts to expand our market potential and accelerate growth opportunities throughout calendar 2021 and beyond. T ....
Applied Industrial Technologies Acquires Gibson Engineering financialbuzz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialbuzz.com Daily Mail and Mail on Sunday newspapers.