Actuant Corp (ATU) SEC Filing 10-K Annual report for the fiscal year ending Sunday, August 31, 2008

Actuant Corp

CIK: 6955 Ticker: ATU

Exhibit 99.1

Actuant Reports Record 2008 Results

MILWAUKEE--(BUSINESS WIRE)--Actuant Corporation (NYSE: ATU) today announced record sales and earnings for its fiscal year ended August 31, 2008.


  • Full-year 2008 revenues were a record $1.66 billion, a 14% increase over the prior year. Fourth quarter revenues increased 4% year-over-year, to $405 million.
  • Record full-year diluted earnings per share (“EPS”) of $2.05, excluding special items, an increase of 18% over the comparable 2007 figure. Fourth quarter EPS increased 10% year-over-year, excluding special items, to $0.54 (see attached reconciliation of earnings).
  • Fourth quarter and full year EBITDA margin expansion, excluding restructuring.
  • Cash generated from operations of $170 million for the year ended August 31, 2008.
  • Deployed approximately $110 million in two tuck-in acquisitions during fiscal 2008.
  • Acquired the Cortland Companies effective September 26, 2008 for $230 million.

Robert C. Arzbaecher, President and CEO of Actuant commented, “Fiscal 2008 marked the 7th consecutive year of EPS growth, excluding special items. We once again were able to convert those strong earnings into cash, generating another year of free cash flow in excess of net income. These improved results are even more gratifying given they were accomplished in the face of strong headwinds from our consumer-oriented markets, including recreational vehicle, marine and DIY electrical. Actuant’s extensive diversification rewarded shareholders again in 2008, with robust demand and profit generation from our Industrial and Engineered Products segments which more than offset the impact of weak consumer markets.”

Consolidated Results

Fourth quarter sales increased 4% to $405 million from $390 million in the prior year. The increase was attributable to the impact of foreign currency rate changes (5%) and acquisitions (3%) as core sales declined 4%. Both the Industrial and Engineered Products segments generated strong core growth; however, the Electrical and Actuation Systems segments reported core sales declines.

The following information was filed by Actuant Corp (ATU) on Wednesday, October 1, 2008 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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Actuant Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2008 10-K Annual Report includes:

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  • Executive Team
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SEC Filing Tools
Ticker: ATU
CIK: 6955
Form Type: 10-K Annual Report
Accession Number: 0001193125-08-219025
Submitted to the SEC: Wed Oct 29 2008 4:07:22 PM EST
Accepted by the SEC: Wed Oct 29 2008
Period: Sunday, August 31, 2008
Industry: Misc Industrial And Commercial Machinery And Equipment

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