Posted December 20, 2017

Actuant posts 9 percent sales gain

Actuant Corporation reported first quarter sales of $289 million increased 9 percent from $266 million in the same period last year.

Core sales increased 6 percent on a year-over-year basis with strong volumes in both the Industrial and Engineered Solutions segments.

Net earnings of $5.2 million, or 9 cents per diluted share, compared to earnings of $4.9 million, or 8 cents, in last year's first quarter.

First quarter fiscal 2018 Industrial segment sales were $97 million or 11 percent higher than the prior year. Energy segment sales declined 10 percent year-over-year to $76 million.

"Consolidated sales were above our expectations with robust on and off highway equipment demand and strong industrial volumes which more than offset the continued challenging energy maintenance environment. Unfavorable mix and higher warranty and other one-time costs contributed to the lower than expected margin flow through on those higher sales," said Randy Baker, President and CEO.

Actuant is a manufacturer of hydraulic tools and solutions; specialized products and services for energy markets and highly engineered position and motion control systems.