Posted March 17, 2011
Actuant sales gain 24%
Hydraulic and electrical tool maker Actuant reported consolidated sales for the second quarter were $331 million, 24% higher than the comparable prior year quarter.
Core sales increased 13% with acquisitions contributing an additional 11% growth. Earnings were $22.1 million, or 30 cents per share, compared to $7.9 million, or 11 cents per share, in the comparable prior year quarter.
Six-month sales were $649 million, 20% higher than the $540 million in the comparable prior year period.
Second quarter fiscal 2011 Industrial segment sales were $89 million, 28% higher than the prior year. Industrial segment core sales increased 15%. The strong growth, despite the normal seasonal slowdown from the first to second quarter, was driven by continued robust global demand across nearly all served markets.
