Actuant Corp. (NYSE: ATU), Milwaukee, WI, reported sales for the fiscal year ended August 31 of $1.4 billion, a 9.4 percent increase over the same period a year ago. Profit was $163.6 million, compared to $30 million a year ago.. Core sales declined 1 percent while acquisitions, net of divestitures, added 7 percent, and foreign currency translation contributed 2 percent to total sales growth.
Fourth quarter sales were $354 million, up 8.3 percent over the same period a year ago. Profit for the quarter was $35.6 million, a decrease of 39 percent.
“Our overall financial performance continues to reflect markets and economies around the world that are challenged to find consistent growth,” said Mark E. Goldstein, CEO. “During the quarter, we recognized a gain on the sale of our RV business, the last of several portfolio streamlining actions taken during the year.”