Posted September 26, 2018

Actuant sales rise 8 percent

Actuant Corporation announced sales of $1.18 billion for its fiscal year, 8 percent higher than the $1.09 billion in the prior year.

The manufacturer of hydraulic tools and motion control systems reported a net loss of $21.6 million, or 36 cents per share, compared to a net loss $66.2 million, or a loss of 11 cents, in the prior fiscal year.

Consolidated sales for the fourth quarter were $301 million, 9 percent higher than the $276 million recorded in the comparable prior year quarter.

“Actuant performed exceptionally well in the quarter, where we saw 10 percent core sales growth and outstanding operating margin expansion over the prior year. Solid above-market growth in our Industrial segment and continued steady growth in our Engineered Solutions segment were coupled with double-digit core sales growth in our Energy segment, the first growth in the segment in more than a year. I also am very pleased with our progress on new product development, as that will allow us to continue to outpace the market growth as we go forward," said Randy Baker, president and CEO.