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Actuant Sales Up 14% in Second Quarter

Profit increased 45.7 percent for the quarter.

Actuant Corporation (NYSE: ATU), Milwaukee, WI, reported sales for the second quarter ended Feb. 29, 2012, were $378 million, up 14 percent over the same period a year ago. Core sales increased 8 percent. Profit from continuing operations grew 45.7 percent to $32.2 million.

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Sales for the six months ended Feb. 29, 2012 were $771 million, 19 percent higher in a year-over-year comparison. Year-to-date core sales increased 8 percent. Profit from continuing operations increased 42 percent to $69.3 million.

Second quarter industrial segment sales were $98 million, 11 percent higher than the prior year. The core sales increase of 11 percent (insignificant foreign currency impact) was driven by continued strong industrial demand across served end markets and geographies.

Second quarter year-over-year energy segment sales increased 28 percent to $79 million. Excluding the 1 percent impact from acquisitions, core sales increased 27 percent reflecting higher activity levels across the segment’s primary markets.

Electrical segment second quarter sales were $77 million, 10 percent higher than the comparable prior year quarter. Core sales increased 14 percent. The strong core sales growth was broad based and reflected higher volumes in the industrial, utility, retail and marine aftermarket channels.

Second quarter engineered solutions segment sales increased 12 percent from the prior year to $124 million. Year-over-year core sales declined 9 percent.

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