Actuant Corp. (NYSE: ATU), Milwaukee, WI, reported sales for the third quarter ended May 31, 2011, were $392.8 million, an increase of 27 percent over the same period a year ago. Profit increased 67 percent to $36.4 million.
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\”We reported year-over-year core sales growth in all four segments, with sequential increases in three of the four segments and in excess of 20% year-over-year core growth in both Industrial and Energy,\” CEO Robert C. Arzbaecher said. \”We generated robust free cash flow and consistent with our business model, deployed it in growth investments, including the acquisition of Weasler just after quarter-end.\”
Industrial segment sales increased 35 percent to $107.8 million in the third quarter, while energy segment sales increased 38 percent. Electrical and Engineered Solutions segment sales were up 30 percent and 13 percent, respectively.
For the first nine months of fiscal 2011, sales were $1.04 billion, up 22.5 percent in a year-over-year comparison. Profit improved 72 percent to $40.8 million.