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Actuant reports 3Q results

The diversified industrial company Actuant Corp. today reported a growth in sales and core revenue for the third quarter, which ended May 31.

Consolidated sales for the third quarter were $335 million, 17 percent higher than the comparable prior-year quarter. Core sales increased 16 percent , while earnings and EPS from continuing operations in the fiscal 2010 third quarter were $21.8 million and 30 cents, respectively, compared to $3.2 million and 6 cents in the comparable prior year quarter.

Sales for the nine months ending May 31 were $934 million, 2 percent lower than the $950 million in the comparable prior year period. Earnings and EPS from continuing operations for the nine months ending May 31 were $40.8 million, or 57 cents per diluted share, compared to $19.3 million, or 33 cents per diluted share for the comparable prior year period.

"We were pleased with our third-quarter results, performing better than anticipated with broad-based strength in many of our markets," chairman and CEO Robert C. Arzbaecher said in a statement. "Overall, our favorable third-quarter financial performance highlights improved market demand and strong execution by our employees."

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