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Actuant Corp (ATU) SEC Filing 10-K Annual report for the fiscal year ending Saturday, August 31, 2013

Actuant Corp

CIK: 6955 Ticker: ATU

Exhibit 99.1

Actuant Reports Fourth Quarter and Full Year Fiscal 2013 Results; Increases 2014 Guidance

MILWAUKEE--(BUSINESS WIRE)--October 1, 2013--Actuant Corporation (NYSE: ATU) today announced results for its fourth quarter ended August 31, 2013.

Highlights

  • Fourth quarter GAAP diluted earnings per share from continuing operations (“EPS”) of $0.60, and $0.50 excluding acquisition related costs and a favorable tax adjustment, an increase of 4% year-over-year (see attached reconciliation of earnings.)
  • Core sales were flat and -3% for the fourth quarter and full year, respectively (total sales less the impact of acquisitions, divestitures and foreign currency rate changes) with improving trends throughout the fiscal year.
  • Year-over-year operating profit margin expansion of 70 basis points for the fourth quarter, or 170 basis points excluding acquisition related costs.
  • Cash flow from operations was a robust $78 million for the fourth quarter.
  • Completed the acquisition of Viking SeaTech (“Viking”) for approximately $235 million, adding capabilities serving the deep water oil & gas market.
  • Repurchased 1.3 million common shares in fiscal 2013 for $42 million, including 0.8 million shares for $28 million in the fourth quarter.
  • Increased full year fiscal 2014 guidance with revised sales and EPS ranges of $1.41-1.45 billion and $2.00-2.10, respectively.

Robert C. Arzbaecher, Chairman and CEO of Actuant commented, “We were pleased to finish the year in line with our expectations, with continued sequential core sales improvement, year-over-year margin and EPS growth, and record free cash flow. Consolidated fourth quarter core sales were flat, as overall demand continued to reflect economies around the world struggling to find steady growth. Excluding approximately $0.04 of Viking related acquisition costs and a favorable tax adjustment, fourth quarter EPS of $0.50 increased 4% on a year-over-year basis on improved margins, partially offset by a higher effective tax rate. In the quarter, we demonstrated our continued ability to operate in a stagnant market environment and deliver earnings growth, while still making strategic investments to drive the company's long-term growth strategy.”


The following information was filed by Actuant Corp (ATU) on Tuesday, October 1, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Earnings
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (parenthetical)
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (detail)
Basic And Diluted Earnings Per Share (detail)
Basic And Diluted Earnings Per Share (parenthetical) (detail)
Business Segment, Geographic And Customer Information
Business Segment, Geographic And Customer Information (tables)
Business Segment, Geographic And Customer Information - Additional Information (detail)
Capital Stock
Capital Stock (tables)
Capital Stock - Additional Information (detail)
Changes In Carrying Value Of Goodwill (detail)
Changes In Gross Liability For Unrecognized Tax Benefits, Excluding Interest And Penalties (detail)
Changes In Projected Benefit Obligations, Fair Value Of Plan Assets And Funded Status Of Defined Benefit Pension Plans (detail)
Condensed Consolidating Balance Sheets (detail)
Condensed Consolidating Statements Of Cash Flows (detail)
Condensed Consolidating Statements Of Earnings (detail)
Contingencies And Litigation
Contingencies And Litigation - Additional Information (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Derivatives
Derivatives (details)
Discontinued Operations
Discontinued Operations (tables)
Discontinued Operations Income Statement And Balance Sheet Summary (detail)
Discontinued Operations Narrative (detail)
Earnings Before Income Taxes, Including Both Continuing And Discontinued Operations (detail)
Employee Benefit Plans
Employee Benefit Plans (tables)
Employee Benefit Plans - Additional Information (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Information (detail)
Fair Value Of Financial Assets And Liabilities Included In Condensed Consolidated Balance Sheet (detail)
Financial Information From Continuing Operations By Geographic Region (detail)
Funded Status Of Defined Benefit Pension Plans (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets Narrative (detail)
Gross Carrying Value And Accumulated Amortization Of Intangible Assets (detail)
Guarantor Subsidiaries
Guarantor Subsidiaries (tables)
Guarantor Subsidiaries - Additional Information (detail)
Income Tax Expense From Continuing Operations (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Leases
Leases - Additional Information (detail)
Long-term Indebtedness (detail)
Net Periodic Benefit Costs (detail)
Proforma Results Of Operations (detail)
Quarterly Financial Data (detail)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Quarterly Financial Data - Additional Information (detail)
Reconciliation Of Changes In Accrued Product Warranty (detail)
Reconciliation Of Income Taxes At Federal Statutory Rate To Effective Tax Rate (detail)
Stock Plans
Stock Plans (tables)
Stocks Plans - Additional Information (detail)
Summary Of Estimated Fair Values Of Assets Acquired And Liabilities Assumed (detail)
Summary Of Financial Information By Reportable Segment And Product Line (detail)
Summary Of Restricted Stock Activity (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Stock Option Activity (detail)
Summary Of Weighted-average Grant-date Fair Value Of Options, Total Intrinsic Value Of Options Exercised, And Cash Receipts From Options Exercised (detail)
Temporary Differences And Carryforwards Of Deferred Tax Assets And Liabilities (detail)
U.s. Pension Plan Investment Allocations By Asset Category (detail)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (detail)
Weighted Average Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Cost (detail)
Weighted-average Assumptions (detail)
Ticker: ATU
CIK: 6955
Form Type: 10-K Annual Report
Accession Number: 0000006955-13-000013
Submitted to the SEC: Fri Oct 25 2013 1:27:47 PM EST
Accepted by the SEC: Fri Oct 25 2013
Period: Saturday, August 31, 2013
Industry: Misc Industrial And Commercial Machinery And Equipment

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