MENOMONEE FALLS — Actuant
Corp. (ATU) on Thursday reported fiscal second-quarter net income of
$2.8 million, after reporting a loss in the same period a year
On a per-share basis, the Menomonee Falls-based company said it had
net income of 4 cents. Earnings, adjusted for one-time gains and
costs, came to 19 cents per share.
The results surpassed Wall Street expectations. The average estimate
of six analysts surveyed by Zacks Investment Research was for
earnings of 17 cents per share.
The industrial products company posted revenue of $271.9 million in
the period, which did not meet Street forecasts. Four analysts
surveyed by Zacks expected $272.3 million.
For the current quarter ending in June, Actuant expects its
per-share earnings to range from 40 cents to 45 cents.
The company said it expects revenue in the range of $295 million to
$305 million for the fiscal third quarter.
Actuant expects full-year earnings in the range of $1.09 to $1.20
per share, with revenue ranging from $1.15 billion to $1.19 billion.
Actuant shares have increased 22 percent since the beginning of the
year. The stock has increased slightly more than 8 percent in the
last 12 months.