Actuant’s 2Q sales rise 17 percent

Industrial Distribution staff -- Industrial Distribution, 3/20/2008 5:58:00 AM

Actuant Corp. posted second-quarter sales of $399.6 million, up 17.2 percent over $341 million during the same period last year.

Net earnings for the Milwaukee-based hydraulics, tools and motion control systems manufacturer rose 17.6 percent to $22.2 million, compared with $18.9 million during the second quarter of 2007.

“In addition to the solid 4 percent core sales growth, our recent acquisitions and the weaker US dollar drove robust sales growth,” CEO Robert Arzbaecher said. "Our third quarter is expected to exhibit similar trends to what we experienced this past quarter, characterized by robust performance from our industrial segment, strong demand for our truck products and the continued benefit of margin improvement initiatives. Excluding future acquisitions, we are projecting third quarter sales … to be in the range of $435 million to $445 million. Our full year fiscal 2008 sales and earnings outlook is being increased to reflect actual second quarter results, the acquisition of Superior Plant Services, the weaker U.S. dollar and current business conditions.”

Total 2008 sales are expected to reach up to $1.7 billion excluding future acquisitions, Arzbaecher said.

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