– Actuant Corp. said it had a lower profit in its second quarter
due to the Menomonee Falls-based company’s continuing
Actuant said its net income for the second quarter rose to $41.4
million, or 56 cents a share, from $28.4 million, or 38 cents,
last year. Earnings from businesses Actuant continues to run
fell to $22.3 million, or 30 cents a share, from $25.8 million,
or 35 cents.
According to a company statement, sales rose 9 percent to $328
"On a consolidated basis, results in the quarter were generally
in line with our forecast and reflected the normal seasonal
slowdown. The 4 percent core sales growth includes significantly
improved activity in energy and continued solid growth in
engineered solutions,” said Mark E. Goldstein, CEO.
“Industrial's core sales decline reflected cautious spending
patterns by customers as well as negative North American weather
and facility relocation impacts. We are pleased with the
progress we are making on some of the operational issues within
energy that we highlighted last quarter.”
Actuant is anticipating earnings of 60 to 65 cents a share in
this quarter, and said full-year earnings will likely come in
closer to $2 than $2.10 a share.