Actuant Corp. reported fiscal second-quarter net income of $2.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Menomonee Falls, Wisconsin-based company said it had net income of 4 cents. Earnings, adjusted for one-time gains and costs, came to 19 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The industrial products company posted revenue of $271.9 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $272.3 million.
For the current quarter ending in June, Actuant expects its per-share earnings to range from 40 cents to 45 cents.
The company said it expects revenue in the range of $295 million to $305 million for the fiscal third quarter.
Actuant expects full-year earnings in the range of $1.09 to $1.20 per share, with revenue ranging from $1.15 billion to $1.19 billion.
Actuant shares have increased 22 percent since the beginning of the year. The stock has increased slightly more than 8 percent in the last 12 months.
