Applied Industrial Technologies Named to Forbes Magazine’s Platinum 400 List for Sixth Consecutive Year
CLEVELAND, OH (January 15, 2009) – Applied Industrial Technologies (NYSE: AIT) has been named to Forbes magazine’s Platinum 400 list of the Best Big Companies in America for the sixth consecutive year. Based on its five-year compounded annual growth rate of 14.8% in shareholder return, as computed by Forbes, Applied ranked 2nd in the industry category of Consumer Durables and 88th out of all companies. Forbes has been publishing the Platinum 400 list since 1999.
The 2009 Platinum 400 list, as published in the January 12th issue of Forbes, is culled from nearly 1,000 corporations with $1 billion or more in revenue, using metrics such as the latest 12-month and five-year sales and earnings-per-share growth as well as total return to shareholders. The ranking also includes consensus forecasts for long-term earnings growth and debt-to-capital ratios. In addition, Forbes takes into consideration accounting and governance practices, financial condition and earnings quality. Rankings are based on the methodology Forbes used to create the list.
“We’re very proud of our six-year track record of being included on the Forbes Best Big Companies list,” stated David L. Pugh, Chairman & Chief Executive Officer for Applied. "Forbes’ recognition of our performance is a testament to our more than 5,200 associates and the results they generate every day for our customers and shareholders.”
With more than 475 facilities and 5,200 employee-associates across North America, Applied Industrial Technologies is an industrial distributor that offers more than 3 million parts critical to the operations of MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. For its fiscal year ended June 30, 2008, Applied posted sales of $2.1 billion. Applied can be visited on the Internet at http://www.applied.com.
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- Julie Kho
- Public Relations Manager
- Applied Industrial Technologies
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