Actuant Corp. Q3 Profit Falls 38%

(RTTNews) - Actuant Corp. (ATU) released earnings for third quarter that dropped from last year.

The company said its earnings fell to $23.67 million, or $0.40 per share. This was down from $37.96 million, or $0.63 per share, in last year's third quarter.

Analysts had expected the company to earn $0.37 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.6% to $305.34 million. This was down from $320.10 million last year.

Actuant Corp. earnings at a glance:

-Earnings (Q3): $23.67 Mln. vs. $37.96 Mln. last year. -Earnings Decline (Y-o-Y): -37.6% -EPS (Q3): $0.40 vs. $0.63 last year. -EPS Decline (Y-o-Y): -36.5% -Analysts Estimate: $0.37 -Revenue (Q3): $305.34 Mln vs. $320.10 Mln last year. -Revenue Change (Y-o-Y): -4.6%

-Guidance: Next quarter EPS guidance: $0.28 - $0.33 Next quarter revenue guidance: $270 - $280 Mln Full year EPS guidance: $1.20 - $1.25 Full year revenue guidance: $1.150 Bln