Actuant’s sales declined 15% in fourth quarter

Freeman Staff

Sept. 30, 2015

MENOMONEE FALLS — Actuant Corporation announced Wednesday that its sales during the fourth quarter declined 15 percent compared to the same period in 2014, which it attributed to the strengthening of the U.S. dollar. Core sales, meanwhile, were down 7 percent, which include total sales excluding the impact of acquisitions, divestitures and foreign currency rate changes.

Diluted earnings per share were $0.37 in the fourth quarter of fiscal 2015 versus $0.47 in the prior year, which excluded a $0.04 divestiture gain. 

“Fourth quarter sales and operating earnings were in line with our expectations and reflect the continuing impact of the downturn across key end markets including energy, agriculture and general industrial. Our focus remains on tightly managing costs while continuing to fund our best growth initiatives across the businesses,” said President, Chairma and CEO Robert C. Arzbaecher, in a statement.

“Given our expectations of continued sluggish demand in fiscal 2016, we are undertaking actions to further simplify our business and rationalize the cost structure. This will position Actuant for stronger profitable growth as end market demand improves. We expect fiscal 2016 to be a transformative year for Actuant and I am excited to be able to launch these important actions to help achieve our vision.”