41Applied Industrial Technologies, Inc. and Subsidiaries
QUARTERLY OPERATING RESULTS
QUARTERLY VOLUME AND PRICE INFORMATION
(In thousands, except per share amounts)
(UNAUDITED) Per Common Share
Net  
Sales 
Gross  
Profit 
Operating 
Income
Net  
Income
Net  
Income
Cash  
Dividend
2012
First Quarter $ 579,574 $ 158,704 $ 43,267 $ 26,382 $ 0.61 $ 0.19
Second Quarter 570,397 155,469 33,335 20,935 0.49 0.19
Third Quarter 605,461 167,613 42,019 29,418 0.69 0.21
Fourth Quarter 620,013 172,686 49,774 32,044 0.75 0.21
$ 2,375,445 $654,472 $ 168,395 $ 108,779 $ 2.54 $ 0.80
2011
First Quarter $ 527,501 $ 143,120 $ 34,891 $ 20,755 $ 0.48 $ 0.17
Second Quarter 529,517 144,281 33,056 21,193 0.49 0.17
Third Quarter 565,970 156,566 38,201 26,536 0.61 0.17
Fourth Quarter 589,861 169,143 44,615 28,275 0.65 0.19
$ 2,212,849 $ 613,110 $ 150,763 $ 96,759 $ 2.24 $ 0.70
2010
First Quarter $ 437,743 $ 115,444 $ 17,641 $ 11,187 $ 0.26 $ 0.15
Second Quarter 446,253 116,905 18,903 10,487 0.24 0.15
Third Quarter 486,141 130,356 27,037 16,525 0.39 0.15
Fourth Quarter 523,071 153,017 46,469 27,704 0.64 0.15
$ 1,893,208 $ 515,722 $ 110,050 $ 65,903 $ 1.54 $ 0.60
Shares Traded Average Daily Volume
Price Range
High Low
2012
First Quarter 26,284,500 410,700 $ 36.77 $24.50
Second Quarter 19,521,900 309,900 36.07 25.63
Third Quarter 15,756,700 254,100 42.01 34.78
Fourth Quarter 16,697,600 265,000 41.79 34.44
2011
First Quarter 18,731,300 292,700 $ 31.08 $ 24.15
Second Quarter 22,875,900 357,400 33.34 29.00
Third Quarter 17,150,600 276,600 34.92 30.63
Fourth Quarter 19,014,600 301,800 36.01 31.94
2010
First Quarter 12,316,800 192,400 $ 23.17 $ 18.11
Second Quarter 13,876,700 216,800 22.91 18.80
Third Quarter 11,246,000 184,400 25.20 21.06
Fourth Quarter 23,193,800 368,200 33.00 24.80
41Applied Industrial Technologies, Inc. and Subsidiaries
On August 6, 2012 there were 5,975 shareholders of record including 4,295 shareholders in the Applied Industrial Technologies, Inc. Retirement Savings Plan.  The Company’s common stock is listed on the New York Stock 
Exchange.  The closing price on August 6, 2012 was $37.96 per share.
The sum of the quarterly per share amounts may not equal per share amounts reported for year-to-date.  This is due to changes in the number of weighted shares outstanding and the effects of rounding for each period.
Cost of sales for interim financial statements are computed using estimated gross profit percentages which are adjusted throughout the year based upon available information.  Adjustments to actual cost are primarily made based 
on periodic physical inventory and the effect of year-end inventory quantities on LIFO costs.  
During the year ended June 30, 2012, overall LIFO expense was $7,100, which is net of $3,400 of LIFO layer liquidations recorded in the fourth quarter.  The Company recorded overall LIFO benefits of $600 in the fourth quarter 
(including the liquidation), which reduced cost of goods sold.  
During the year ended June 30, 2011, the Company recorded overall LIFO benefits of $5,294, which reduced cost of goods sold.  The overall LIFO reserves were reduced by the same amount.  Total fiscal year 2011 LIFO benefits 
were recorded as follows: $301 in the first quarter, $1,823 in the second quarter, $356 in the third quarter and $2,814 in the fourth quarter.
During the year ended June 30, 2010, the Company recorded overall LIFO benefits of $23,500, which reduced cost of goods sold.  The overall LIFO reserves were reduced by the same amount.  Total fiscal year 2010 LIFO benefits 
were recorded as follows:  $710 in the first quarter, $1,800 in the second quarter, $4,840 in the third quarter and $16,150 in the fourth quarter.
In the second quarter of fiscal 2011, Applied commenced its ERP project to transform the Company’s technology platforms and enhance its business information and transaction systems for future growth.  Fiscal 2012 cash