$AIT
APPLIED INDUSTRIAL TECHNOLOGIES INC

2011 Q4 Form 10-Q Financial Statement

#000010956312000004 Filed on February 02, 2012

View on sec.gov

Income Statement

Concept 2011 Q4 2010 Q4
Revenue $570.4M $529.5M
YoY Change 7.72% 18.65%
Cost Of Revenue $414.9M $385.2M
YoY Change 7.71% 16.99%
Gross Profit $155.5M $144.3M
YoY Change 7.75% 23.42%
Gross Profit Margin 27.26% 27.25%
Selling, General & Admin $122.1M $111.2M
YoY Change 9.81% 13.49%
% of Gross Profit 78.56% 77.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.780M $2.783M
YoY Change -0.11% -48.46%
% of Gross Profit 1.79% 1.93%
Operating Expenses $122.1M $111.2M
YoY Change 9.81% 13.38%
Operating Profit $33.34M $33.06M
YoY Change 0.84% 75.83%
Interest Expense -$700.0K $0.00
YoY Change -100.0%
% of Operating Profit -2.1% 0.0%
Other Income/Expense, Net -$778.0K $421.0K
YoY Change -284.8% -521.0%
Pretax Income $32.55M $33.02M
YoY Change -1.43% 88.68%
Income Tax $11.61M $11.83M
% Of Pretax Income 35.68% 35.82%
Net Earnings $20.94M $21.19M
YoY Change -1.22% 101.84%
Net Earnings / Revenue 3.67% 4.0%
Basic Earnings Per Share $0.50 $0.50
Diluted Earnings Per Share $0.49 $0.49
COMMON SHARES
Basic Shares Outstanding 41.97M shares 42.41M shares
Diluted Shares Outstanding 42.63M shares 43.30M shares

Balance Sheet

Concept 2011 Q4 2010 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.50M $53.90M
YoY Change 30.8% -48.27%
Cash & Equivalents $70.51M $53.92M
Short-Term Investments
Other Short-Term Assets $36.11M $29.40M
YoY Change 22.83% 1.73%
Inventory $222.6M $195.0M
Prepaid Expenses
Receivables $280.7M $250.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $610.0M $529.0M
YoY Change 15.3% -3.27%
LONG-TERM ASSETS
Property, Plant & Equipment $76.66M $67.40M
YoY Change 13.74% 12.71%
Goodwill $75.52M
YoY Change
Intangibles $82.97M
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.31M $65.30M
YoY Change -75.02% 0.0%
Total Long-Term Assets $288.1M $300.6M
YoY Change -4.18% 7.68%
TOTAL ASSETS
Total Short-Term Assets $610.0M $529.0M
Total Long-Term Assets $288.1M $300.6M
Total Assets $898.0M $829.6M
YoY Change 8.24% 0.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $105.6M $87.00M
YoY Change 21.37% 5.58%
Accrued Expenses $51.90M $42.10M
YoY Change 23.28% 22.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $199.0M $172.1M
YoY Change 15.61% -29.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.63M $68.20M
YoY Change -75.62% 11.07%
Total Long-Term Liabilities $16.63M $68.20M
YoY Change -75.62% 11.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $199.0M $172.1M
Total Long-Term Liabilities $16.63M $68.20M
Total Liabilities $251.8M $240.4M
YoY Change 4.75% -20.92%
SHAREHOLDERS EQUITY
Retained Earnings $699.6M
YoY Change
Common Stock $161.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $216.6M
YoY Change
Treasury Stock Shares 12.22M shares
Shareholders Equity $646.2M $589.2M
YoY Change
Total Liabilities & Shareholders Equity $898.0M $829.6M
YoY Change 8.25% 0.42%

Cashflow Statement

Concept 2011 Q4 2010 Q4
OPERATING ACTIVITIES
Net Income $20.94M $21.19M
YoY Change -1.22% 101.84%
Depreciation, Depletion And Amortization $2.780M $2.783M
YoY Change -0.11% -48.46%
Cash From Operating Activities $13.80M $15.50M
YoY Change -10.97% -65.93%
INVESTING ACTIVITIES
Capital Expenditures -$6.900M -$12.90M
YoY Change -46.51% 658.82%
Acquisitions
YoY Change
Other Investing Activities $300.0K $100.0K
YoY Change 200.0% -66.67%
Cash From Investing Activities -$6.600M -$12.90M
YoY Change -48.84% 892.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.300M -44.40M
YoY Change -81.31% 604.76%
NET CHANGE
Cash From Operating Activities 13.80M 15.50M
Cash From Investing Activities -6.600M -12.90M
Cash From Financing Activities -8.300M -44.40M
Net Change In Cash -1.100M -41.80M
YoY Change -97.37% -210.29%
FREE CASH FLOW
Cash From Operating Activities $13.80M $15.50M
Capital Expenditures -$6.900M -$12.90M
Free Cash Flow $20.70M $28.40M
YoY Change -27.11% -39.83%

Facts In Submission

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us-gaap Other Comprehensive Income Reclassification Adjustment On Derivatives Included In Net Income Tax
OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax
116000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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-184000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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USD
CY2010Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
846000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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104000 USD
CY2011Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
29000 USD
CY2010Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
59000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
124000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1139000 USD
CY2011Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
40766000 USD
CY2011Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
41443000 USD
CY2011Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
16625000 USD
CY2011Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
18950000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1833000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1119000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
764000 USD
CY2011Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-778000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2010Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
421000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
18990000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16077000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
14422000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1241000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
27739000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
14022000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
13804000 USD
CY2010Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
12931000 USD
CY2011Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6880000 USD
CY2011Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
47730000 USD
CY2011Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
36238000 USD
CY2011Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2011Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2011Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2011Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2011Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
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PreferredStockSharesOutstanding
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CY2011Q2 us-gaap Preferred Stock Value
PreferredStockValue
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CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
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us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-50000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
981000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
25000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
USD
CY2011Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
668421000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
699612000 USD
CY2011Q4 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
3708000 USD
CY2010Q4 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
4202000 USD
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
8598000 USD
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
7955000 USD
CY2010Q4 us-gaap Sales Revenue Net
SalesRevenueNet
529517000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1057018000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1149971000 USD
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
570397000 USD
CY2011Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
122134000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
219454000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
237571000 USD
CY2010Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
111225000 USD
CY2011Q2 us-gaap Stockholders Equity
StockholdersEquity
633563000 USD
CY2011Q4 ait Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
122222000 USD
ait Other Comprehensive Income Actuarial Loss On Remeasurement Of Postemployment Benefits Tax
OtherComprehensiveIncomeActuarialLossOnRemeasurementOfPostemploymentBenefitsTax
-190000 USD
CY2010Q4 ait Other Net
OtherNet
-82000 USD
ait Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gains Losses And Prior Service Cost Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainsLossesAndPriorServiceCostTax
360000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
646186000 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
1505000 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
-1006000 USD
CY2010Q4 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
696000 USD
CY2011Q4 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
374000 USD
CY2011Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
11611000 shares
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
12220000 shares
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
216557000 USD
CY2011Q2 us-gaap Treasury Stock Value
TreasuryStockValue
198224000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-368000 USD
CY2010Q4 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-162000 USD
CY2010Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
887000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
620000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
826000 shares
CY2011Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
669000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42801000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43217000 shares
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42634000 shares
CY2010Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43298000 shares
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41965000 shares
CY2010Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42411000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42391000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42181000 shares
ait Actuarial Loss On Remeasurement Of Postemployment Benefits Gross
ActuarialLossOnRemeasurementOfPostemploymentBenefitsGross
-492000 USD
ait Actuarial Loss On Remeasurement Of Postemployment Benefits Net Of Tax
ActuarialLossOnRemeasurementOfPostemploymentBenefitsNetOfTax
-302000 USD
CY2011Q4 ait Actuarial Loss On Remeasurement Of Postemployment Benefits Net Of Tax
ActuarialLossOnRemeasurementOfPostemploymentBenefitsNetOfTax
-302000 USD
ait Corporate And Other Income Net
CorporateAndOtherIncomeNet
-2960000 USD
ait Corporate And Other Income Net
CorporateAndOtherIncomeNet
-2084000 USD
CY2010Q4 ait Corporate And Other Income Net
CorporateAndOtherIncomeNet
-784000 USD
CY2011Q4 ait Corporate And Other Income Net
CorporateAndOtherIncomeNet
3361000 USD
CY2011Q2 ait Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
124656000 USD
CY2011Q4 ait Other Comprehensive Income Actuarial Loss On Remeasurement Of Postemployment Benefits Tax
OtherComprehensiveIncomeActuarialLossOnRemeasurementOfPostemploymentBenefitsTax
-190000 USD
ait Other Comprehensive Income Reclassification Of Actuarial Losses And Prior Service Cost Into Selling Distribution And Admininstrative Expense Net Of Tax
OtherComprehensiveIncomeReclassificationOfActuarialLossesAndPriorServiceCostIntoSellingDistributionAndAdmininstrativeExpenseNetOfTax
574000 USD
ait Other Comprehensive Income Reclassification Of Actuarial Losses And Prior Service Cost Into Selling Distribution And Admininstrative Expense Net Of Tax
OtherComprehensiveIncomeReclassificationOfActuarialLossesAndPriorServiceCostIntoSellingDistributionAndAdmininstrativeExpenseNetOfTax
760000 USD
CY2011Q4 ait Other Comprehensive Income Reclassification Of Actuarial Losses And Prior Service Cost Into Selling Distribution And Admininstrative Expense Net Of Tax
OtherComprehensiveIncomeReclassificationOfActuarialLossesAndPriorServiceCostIntoSellingDistributionAndAdmininstrativeExpenseNetOfTax
287000 USD
CY2010Q4 ait Other Comprehensive Income Reclassification Of Actuarial Losses And Prior Service Cost Into Selling Distribution And Admininstrative Expense Net Of Tax
OtherComprehensiveIncomeReclassificationOfActuarialLossesAndPriorServiceCostIntoSellingDistributionAndAdmininstrativeExpenseNetOfTax
341000 USD
CY2011Q4 ait Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gains Losses And Prior Service Cost Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainsLossesAndPriorServiceCostTax
180000 USD
CY2010Q4 ait Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gains Losses And Prior Service Cost Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainsLossesAndPriorServiceCostTax
212000 USD
ait Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gains Losses And Prior Service Cost Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainsLossesAndPriorServiceCostTax
347000 USD
CY2011Q4 ait Other Net
OtherNet
-105000 USD
ait Other Net
OtherNet
-224000 USD
ait Other Net
OtherNet
-148000 USD
ait Other Share Based Compensation Expense
OtherShareBasedCompensationExpense
2110000 USD
ait Settlements Of Cross Currency Swap Agreements
SettlementsOfCrossCurrencySwapAgreements
12752000 USD
ait Other Share Based Compensation Expense
OtherShareBasedCompensationExpense
2523000 USD
ait Settlements Of Cross Currency Swap Agreements
SettlementsOfCrossCurrencySwapAgreements
USD
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2011-12-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000109563
CY2012Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
41998285 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2010Q4 dei Entity Public Float
EntityPublicFloat
1339175832 USD
dei Entity Registrant Name
EntityRegistrantName
APPLIED INDUSTRIAL TECHNOLOGIES INC
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

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0000109563-12-000004-xbrl.zip Edgar Link pending
a10q123111exhibit15.htm Edgar Link pending
a10q123111exhibit31.htm Edgar Link pending
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