Enerpac Tool Group sales decline 18.6 percent
Enerpac Tool Group Corp. said its first quarter fiscal 2021 sales of $119 million compared to $146.7 million in the prior year first quarter, a decline of 18.6 percent.
Core sales decreased 18% year-over-year, with product sales down 16% and service down 24%. The net impact of acquisitions and divestitures/strategic exits decreased net sales by an additional 2%, and the impact of foreign currency had a minimal impact on net sales.
Compared to the fourth quarter of fiscal 2020, sales grew by 7% sequential.
Fiscal 2021 first quarter net income from continuing operationswas $4.8 million, or 8 cents per diluted share, compared to $6.4 million, 11 cents. in the first quarter of fiscal 2020.
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.
