Applied Industrial Technologies 1Q17 Earnings Call Notes

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Neil Schrimsher – President and CEO

April down a little from March

“I would say the sales per day trends really improved throughout the prior quarter of January to February, February onto March. April is running positive year-over-year, really in the projected sales range. It is down from the month of March with a couple of days to go, but I would say somewhat as expected considering holiday timing, spring break season so forth.”

Likely inflation but not runaway

“I would say from an year to date standpoint, we haven’t seen so much. We are seeing increases from suppliers. So I think as we work through calendar 2017, we will see a few more supplier increases, and likely have some moderate inflation as we go forward. As we look back at the results and the impact prices it has not been so large, but we think going forward in that time period; it will start to show up more. “