Actuant Q4 Adj. EPS Tops View; Issues Q1, FY16 Outlook - Quick Facts

(RTTNews) - Actuant Corp. (ATU) said its fourth-quarter net income declined to $22.1 million or $0.37 per share, from $35.1 million and $0.51 per share in the comparable quarter last year.

The prior year included $2.8 million, or $0.04 per share gain on the sale of the RV business. Excluding this item, earnings declined 21% to $0.37 per share from $0.47 per share in the comparable prior year quarter. On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share. Analysts' estimates typically exclude special items.

Consolidated sales for the latest fourth quarter were $300.38 million, down 15% from $354.35 million in the prior year quarter. Core sales declined 7%. Analysts expected revenues of $294.21 million for the quarter.

Looking ahead to the first quarter, the company expects earnings in the range of $0.20 to $0.25 per share, excluding restructuring charges, future stock buybacks and acquisitions and sales in the range of $275 million to $285 million on a 7-9% core sales decline. Analysts expect the company to report earnings of $0.30 per share and revenues of $285.91 million for the first-quarter.

For fiscal 2016, the company currently expects earnings, excluding restructuring charges, future stock buybacks and acquisitions to be in the range of $1.20 to $1.40 per share. Sales is projected in the range of $1.16 billion to $1.20 billion, reflecting a core sales decline of 1-4%, and $40 million of headwind from the stronger US dollar. Analysts currently expect fiscal 2016 earnings of $1.46 per share on revenues of $1.17 billion.