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Whether you're walking a tightrope or scribbling in your checkbook, balance is a good thing. And, one of the best ways to evaluate a company is to glance at its balance sheet to see what it owns with what it owes.
The balance sheet is a paragon of simplicity and is made up of three components: assets (the stuff it owns), liabilities (the money it owes), and shareholders' equity (the company's value to its shareholders).
Assets take two forms: short-term (or current) assets and long-term assets. Under short-term, there¿s good ol' hard cash. Then, there¿s something called "cash equivalents," which are assets like short-term bonds that can be sold so quickly, they might as well be cash. There you factor in inventory, which (if you're a reasonably competent business owner) you can sell to customers in return for--you guessed it--cash. (The raw materials a company owns to make that inventory also falls under this category.)
Long-term assets are things that are harder to convert into cash. (Think real estate and equipment.) Long-term assets depreciate, meaning they lose some value over time. Also under the long-term category are what's called intangible assets: things like patents and brands, that are important, but hard to quantify. Accountants earn their stripes figuring out the real overall value of these assets.
Once you know your assets, it's time for liabilities. As with assets, liabilities are separated into short-term or current, and long-term. Current liabilities are what a company owes in that year: Things like payments to employees or accounts payable to suppliers. Long-term liabilities are debts paid over several years.
Shareholders' equity is determined by subtracting the liabilities from the assets. That number represents the value of the company after all its bills are paid.
Obviously, investors should pay close attention to balance sheets. Spikes in the amount of debt carried, or a reduction in shareholders' equity, are usually red flags.
Home / Markets / Industries / Industrials
Thursday, July 10, 2008
Applied Industrial Technologies Declares Quarterly Dividend
Comtex
CLEVELAND, July 10, 2008 /PRNewswire-FirstCall via COMTEX/ ----Applied Industrial Technologies (NYSE: AIT) Chairman & Chief Executive Officer David L. Pugh today announced that the Company's Board of Directors has declared a quarterly cash dividend of $0.15 per common share, payable on August 29, 2008, to shareholders of record on August 15, 2008.
Applied will announce its fourth quarter and year-end results on the morning of Friday, August 8, 2008, and will also host its conference call for investors and analysts at 2 p.m. ET that same day. To join in the call, dial 1-888-581-9259, passcode 54843171. The call will be conducted by Chairman & CEO David L. Pugh, President & COO Ben Mondics, and CFO Mark O. Eisele. The call will also be webcast and can be accessed live online at http://www.applied.com and will be archived there for 14 days. A replay of the teleconference will be available for two weeks at 1-800-642-1687 (passcode 54843171).
Applied will hold its Annual Meeting of Shareholders on Tuesday, October 21, 2008, 10 AM ET, at its Corporate Headquarters, One Applied Plaza (E. 36th & Euclid Avenue), Cleveland, Ohio. August 22, 2008, is the record date for determining shareholders entitled to notice of and to vote at the Annual Meeting.
With more than 445 facilities and 4,600 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, 2007, Applied posted sales of $2.0 billion. Applied can be visited on the Internet at http://www.applied.com .
SOURCE Applied Industrial Technologies
http://www.applied.com
Copyright (C) 2008 PR Newswire. All rights reserved ********************************************************************** As of Sunday, 07-06-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-27-2008 for AIT @ $24.67. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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