Actuant on Wednesday reported a fiscal 2010 fourth-quarter net loss of $16.8 million, or 22 cents a share, compared with net and per-share earnings of $16.5 million and 24 cents, respectively, in the comparable quarter a year earlier.
Chairman and chief executive officer Robert Arzbaecher said the diversified industrial company expects 2011 to be a year of growth and acquisitions.
"As we begin fiscal 2011, we expect the overall global economy to continue to grow at a modest pace," Arzbaecher said. "We are focused on our long-term organic and acquisition-driven growth strategies. With our strong cash flow and borrowing capacity, we are well-positioned financially to capitalize on these opportunities."