$1.5 
$1.5 
$1.7 
$1.9 
$2.0 
$2.1 
$1.9 
$1.9 
$2.2 
$2.4 
$0.0 
$0.5 
$1.0 
$1.5 
$2.0 
$2.5 
03 04 05 06 07 08 09 10 11 12
 
Net  Sales  
(Dollars in Billions)
$19.8 
$31.5 
$55.3 
$72.3 
$86.0 
$95.5 
$42.3 
$65.9 
$96.8 
$108.8 
$0 
$20 
$40 
$60 
$80 
$100 
$120 
03 04 05 06 07 08 09 10 11 12 
Net Income  
(Dollars in Millions)
* T he goodwill impairment charge in fiscal 2009  
 r educed net income by $23.0 million.
$0.46 
$0.71 
$1.20 
$1.57 
$1.93 
$2.19 
$0.99 
$1.54 
$2.24 
$2.54 
$0.0 
$0.5 
$1.0 
$1.5 
$2.0 
$2.5 
$3.0 
03 04 05 06 07 08 09 10 11 12
 
Net Income Per Share  
(Dollars)
* T he goodwill impairment charge in fiscal 2009  
 r educed net income per share by $0.54.
42 Applied Industrial Technologies, Inc. and Subsidiaries
(In thousands, except per share amounts and statistical data)
10 YEAR SUMMARY
2012 2011 2010 2009 (a) 2008 2007 2006 2005 2004 2003
Consolidated  Operations  - Year Ended June 30
Net sales $2,375,445 $2,212,849 $ 1,893,208 $ 1,923,148 $ 2,089,456 $2,014,109 $ 1,900,780 $1,717,055 $ 1,517,004 $1,464,367 
Depreciation and amortization of property 11,236  11,234  11,465  12,736  12,776  13,489  13,128  13,832  14,381  14,458 
Amortization:
  Intangible assets 11,465  11,382  10,151  46,260  1,663  1,045  732  993  826  781 
  SARs and stock options (b) 2,058  2,473  3,020  3,702  2,999  2,494  2,658  2,111  1,586      –
Operating income 168,395 150,763 110,050 72,493 152,824 135,011 115,592 87,968 51,448 36,254 
Net income 108,779 96,759 65,903 42,260 95,456 86,022 72,299 55,339 31,471 19,832 
Per share data:
Net income:
Basic 2.58 2.28 1.56 1.00 2.23 1.97 1.62 1.24 0.73 0.47 
Diluted 2.54 2.24 1.54 0.99 2.19 1.93 1.57 1.20 0.71 0.46 
Cash dividend 0.80 0.70 0.60 0.60 0.60 0.48 0.40 0.29 0.21 0.21 
Year-End Position - June 30
Working capital $ 435,593 $  404,226 $  347,528 $  369,038 $  409,186 $  365,523 $  370,013 $  345,806 $  286,022 $  259,359 
Long-term debt (including long-term debt classified as current) 75,000 75,000 25,000 75,395 76,186 76,977 77,767 78,558 
Total assets 962,183 914,931 891,520 809,328 798,771 777,369 730,671 690,170 596,841 553,404 
Shareholders’ equity 672,131 633,563 555,039 508,102 502,075 450,983 414,822 393,287 339,535 307,856 
Year-End Statistics - June 30
Current ratio 2.9 2.9 2.3 3.4 3.1 2.6 3.0 2.9 2.9 2.8 
Operating facilities 476 474 455 464 459 445 452 440 434 440 
Shareholders of record 6,225 6,208 5,884 6,329 6,305 6,242 6,192 6,079 6,154 6,157 
Return on assets (c) 11.8% 11.1% 7.9% 7.7% 12.2% 11.6% 10.3% 8.8% 5.6% 3.7%
Return on equity (d) 16.7% 16.3% 12.4% 8.4% 20.0% 19.9% 17.9% 15.1% 9.7% 6.5%
Capital expenditures $ 26,021 $ 20,431 $ 7,216 $ 6,988 $ 8,410 $ 11,192 $ 11,057 $ 9,208 $ 14,383 $ 12,794 
(a) The goodwill impairment charge in fiscal 2009 reduced operating income by $36,605, net income by $23,000 and net income per share by $0.54.
(b) Prior to 2004, the Company did not record SAR or stock option expense as it was not required by Generally Accepted Accounting Principles.
(c) Return on assets is calculated as net income divided by monthly average assets, exclusive of the goodwill impairment.
(d) Return on equity is calculated as net income divided by the average shareholders' equity (beginning of the year and end of the year divided by 2).
(UNAUDITED)
25358_AIT_Report_WT.indd   42 8/23/12   8:33 AM