* Q3 EPS $0.39 vs est. $0.30
* Ups 2010 EPS view to $1.18-$1.33
April 22 Industrial parts distributor Applied
Industrial Technologies (AIT.N) posted better-than-expected
quarterly results and raised its full-year outlook, citing
signs of encouraging broad-scale activity in its end markets.
"As we talk with our customers and our suppliers, we are
cautiously optimistic for moderate economic recovery through
the remainder of our fiscal year," said CEO David Pugh.
Applied Industrial sees 2010 earnings of $1.18 a share to
$1.33 a share on sales of $1.85 billion to $1.90 billion.
It had previously forecast 95 cents a share to $1.25 a
share on sales of $1.75 billion to $1.85 billion.
For the third quarter ended March 31, net income was $16.5
million, or 39 cents a share, up from $11.6 million, or 27
cents a share, a year ago.
Revenue rose about 8 percent to $486.1 million.
Analysts were expecting earnings of 30 cents a share on
revenue of $462.1 million, according to Thomson Reuters
Shares of the company closed at $26.87 Wednesday on the New
York Stock Exchange.
(Reporting by A.Ananthalakshmi in Bangalore; Editing by
Aradhana Aravindan) ((firstname.lastname@example.org;
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