Posted September 27, 2017

Actuant reports loss for Q4 and full year

Actuant Corporation reported consolidated sales for the fourth quarter were $276 million, flat with the prior year’s sales level.

The company had a net loss of $98.8 million for the quarter, or a loss of $1.65 per share, compared to net income of $17.4 million, or income of 29 cents per share, in the same period last year.

The quarter included restructuring charges of $1.3 million, as well as $108.9 million in impairment and divestiture charges related to the pending sale of the Viking SeaTech business.

Fourth quarter fiscal 2017 Industrial segment sales were $100 million or 7% higher than the prior year.

Sales for the year were $1.09 billion, 5% lower than the $1.15 billion in the prior year.

A net loss for the full year of $66.2 million, $1.11 per share, compared to a fiscal 2016 net loss $105.2 million or a loss of $1.78 per share.