Actuant Corp. Q1 Earnings Drop 37%

(RTTNews) - Actuant Corp. (ATU) announced a profit for first quarter that decreased compared to the same period last year.

The company said its profit dropped to $15.45 million, or $0.26 per share. This was lower than $24.67 million, or $0.38 per share, in last year's first quarter.

Analysts had expected the company to earn $0.24 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.9% to $305.01 million. This was down from $327.77 million last year.

Actuant Corp. earnings at a glance:

-Earnings (Q1): $15.45 Mln. vs. $24.67 Mln. last year. -Earnings Decline (Y-o-Y): -37.4% -EPS (Q1): $0.26 vs. $0.38 last year. -EPS Decline (Y-o-Y): -31.6% -Analysts Estimate: $0.24 -Revenue (Q1): $305.01 Mln vs. $327.77 Mln last year. -Revenue Change (Y-o-Y): -6.9%

-Guidance: Next quarter EPS guidance: $0.17 - $0.22 Next quarter revenue guidance: $270 - $280 Mln Full year EPS guidance: $1.25 - $1.40 Full year revenue guidance: $1.165 - $1.200 Bln