What began as Ohio Ball Bearings Company in 1923, Applied Technologies brings some good news from one of from it's rather strange, but beautiful, headquarters.

http://web.applied.com/base.cfm?page_id=1518

 

Applied Industrial Technologies (NYSE: AIT) said net income for its fiscal year rose 31% to $72 million ($1.57 a share), while sales were up 11% to $1.9 billion. (Link: release)

 

The Cleveland distributor of industrial parts reported fourth-quarter net income up 26% to $20 million (44 cents a share) as sales rose 11% to $504 million.

 

AIT noted that it had added two operations during the year, Spencer Fluid Power and Minnesota Bearing, and has the cash on hand to make more acquisitions. It projects earnings growth of 7% to 10% in the current fiscal year, with earnings of $1.76 to $1.80 per share on sales of as much as $2.09 billion.

soon, they'll be ready for lift-off!

 

in all seriousness, though, this is great news