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Actuant Sales Up 6% in Second Quarter

Actuant Corp. (NYSE: ATU), Milwaukee, WI, reported sales for the fiscal second quarter ended February 28 of $275 billion, a 6 percent increase over the same period a year ago. Core sales increased 3 percent year-over-year.

The company reported a loss of $18.2 million during the quarter, compared to a profit of $5.1 million in the same period a year ago. Fiscal second-quarter earnings included restructuring charges of $4.3 million, impairment and divestiture charges of $3 million, $8.4 million related to U.S. tax reform, and $1.4 million for equity compensation deferred tax adjustments, the company said.

Second-quarter industrial segment sales were $99.1 million, an 8 percent increase over the prior-year period. Energy segment sales declined 9 percent year-over-year to $66 million, and engineered solutions segment sales rose 17 percent to $110 million above the prior year.


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