Actuant’s 1Q sales jump 21 percent

Industrial Distribution staff -- Industrial Distribution, 12/19/2007 6:20:00 AM

First-quarter sales for Actuant Corp. rose 21 percent to $415 million, compared with $343 million during the same period last year.

Quarterly net earnings for the Milwaukee-based motion control, hydraulic and electrical tools and supplies manufacturer/distributor rose 9.2 percent to $27.4 million, compared $25.1 million during the first quarter of fiscal 2007.

"Actuant is off to a solid start in fiscal 2008 with core sales growth slightly ahead of expectations and excellent conversion to earnings. Robust industrial segment sales as well as continued strength in the European truck market had a favorable impact on our core sales growth in the quarter. These results reinforce the benefits of Actuant's end market, geographic and customer diversification,” president and CEO Robert Arzbaecher said.

The company expects lower year-to-year comparisons during the second quarter but an earnings increase of up to 18 percent for the full year, Arzbaecher said.

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