Applied Industrial Technologies, Inc. reported consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported net sales of $691,702,000 against $581,949,000 a year ago. Operating income was $46,807,000 against $39,837,000 a year ago. Income before income taxes was $44,472,000 against $40,259,000 a year ago. Net income was $29,707,000 against $25,909,000 a year ago. Basic and diluted earnings per share were $0.72 against diluted earnings per share of $0.61 a year ago. Cash generated from operating activities was $19.3 million for the second quarter compared to $15.7 million in the prior year quarter.

For the six months, the company reported net sales of $1,394,027,000 against $1,187,254,000 a year ago. Operating income was $92,972,000 against $79,376,000 a year ago. Income before income taxes was $88,731,000 against $80,828,000 a year ago. Net income was $58,829,000 against $52,753,000 a year ago. Diluted earnings per share were $1.41 against $1.24 a year ago. Net cash provided by operating activities was $1,173,000 against $32,663,000 a year ago. Property purchases were $7,806,000 against $4,126,000 a year ago.

For the second half of fiscal 2015, the company is narrowing full-year guidance range for earnings per share to between $2.95 and $3.10 per share, on a sales increase of 13% to 15%. The company expects its tax rate for the remaining two quarters of fiscal 2015 will be around 34.0% to 34.5%. The company expects cash provided from operating activities to be greater than its annual net income amount.