Actuant (ATU) Tops Q2 EPS by 3c; Updates FY16 Outlook
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Actuant Reports Second Quarter Results; Updates Fiscal 2016 Guidance
March 16, 2016 8:01 AM EDTMILWAUKEE--(BUSINESS WIRE)-- Actuant Corporation (NYSE: ATU) today announced results for its second quarter ended February 29, 2016.
Highlights
Consolidated sales were 13% below the comparable prior year quarter with the stronger US dollar contributing 5% of the decline and core sales 8% lower on a year-over-year basis (total sales excluding the impact of acquisitions, divestitures and foreign currency exchange rates). Excluding asset impairment and restructuring charges, diluted earnings per share (EPS) were $0.21, compared to $0.28 in the prior year, (see Consolidated Results below and attached reconciliation of earnings).... More