Actuant Corp., Butler, WI, reported sales for fiscal year 2009 were $1.24 billion, down 23% from fiscal year 2008. Profit decreased 88.8% to $13.7 million. Excluding the impact of foreign currency rate changes and acquisitions, sales declined 27%.
For the fourth quarter ended Aug. 31, 2009, sales were $290.1 million, down 26.3% from the prior year period. Profit declined 51.2% to $16.5 million.
During the fourth quarter, Actuant divested Acme Aerospace and BH Electronics.
Fourth quarter Industrial segment sales decreased 37% to $62 million. Excluding foreign currency rate changes, Industrial segment sales were 35% lower than the comparable prior year period; however, they were approximately level with the third fiscal quarter.
Energy segment sales in the fourth quarter grew 5% to $64 million. Acquisitions contributed 25% to sales while the stronger US dollar reduced sales by 9%. Core sales declined 11% due to lower capital project based revenue.
Electrical segment fiscal 2009 fourth quarter sales declined 22% to $88 million, with core sales decreasing 19% on weaker demand. The stronger US dollar contributed 3% to the sales decline.
Fourth quarter Engineered Solutions segment sales declined 37%, reflecting significantly reduced demand from truck and specialty vehicle end markets.
Actuant is a diversified industrial company with operations in more than 30 countries.
