Actuant sales up 9 percent
Actuant Corporation reported fiscal second quarter sales of $328 million increased 9% compared to the prior year.
Core sales grew by 4% and acquisitions contributed 5 percent.
The maker of hydraulic tools and motion control systems posted earnings of $22.3 million, or 30 cents per share, compared to $25.8 million, or 35 cents, in the same period last year.
Industrial segment sales were $94 million, 5% lower than the prior year. The decline was due in part to lower industrial tool demand, notably in the mining maintenance market. In addition, a plant relocation and severe weather hindered North American volumes in the quarter.
Energy segment sales increased 31% to $106 million, while Engineered Solutions segment sales increased 6% from the prior year to $128 million.