The 2020 Mid-Year Economic Update_long

Actuant Sales Down 4.7% in Fiscal 2017

Fourth quarter sales down slightly year-over-year.

Actuant Corp. (NYSE: ATU), Milwaukee, WI, reported sales for the fiscal year ended August 31 of $1.1 billion, a 4.7 percent decrease over the same period a year ago. Core sales decreased 4 percent for the year.

The company reported a loss for the year of $66.2 million, compared to a loss of $105.2 million a year ago.

Fourth quarter sales were $275.7 million, down 0.03 percent over the same period a year ago. The company reported a loss for the quarter of $98.8 million, compared to a profit of $17.4 million the previous year. Core sales were flat for the quarter.

Fourth quarter industrial segment sales were $100.3 million, up 6.7 percent from the previous year. The weaker US dollar created a 2 percent currency benefit, resulting in core sales growth of 5 percent.

Energy segment sales decreased 24.9 percent year-over-year to $68.6 million, with core sales down 25 percent. Engineered solutions segment sales increased 18.3 percent from the prior year to $106.8 million, with core sales up 20 percent.

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