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.
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.
