Actuant sales up 9 percent
Actuant Corporation reported fiscal second quarter sales of $328 million increased 9% compared to the prior year.
Core sales grew by 4% and acquisitions contributed 5 percent.
The maker of hydraulic tools and motion control systems posted earnings of $22.3 million, or 30 cents per share, compared to $25.8 million, or 35 cents, in the same period last year.
Industrial segment sales were $94 million, 5% lower than the prior year. The decline was due in part to lower industrial tool demand, notably in the mining maintenance market. In addition, a plant relocation and severe weather hindered North American volumes in the quarter.
Energy segment sales increased 31% to $106 million, while Engineered Solutions segment sales increased 6% from the prior year to $128 million.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
