Actuant Reports Profit In Q4 - Quick Facts

(RTTNews) - Industrial products and systems maker Actuant Corp. (ATU) reported a profit for the fourth quarter compared to a loss last year, when the company had recorded a hefty loss from discontinued operations. The company posted a modest growth in revenues and core sales being flat, with acquisitions contributing 2% and nominal currency impact.

For the three-month period, the company reported net income from continuing operations of $45.1 million or $0.60 per share, compared with $35.9 million or $0.48 per share during the same period last year. Including discontinued operations, the company reported net income of $58.2 million or $0.78 per share, compared with net loss of $16.4 million or $0.22 per share for last year, which included a loss from discontinued operations of of $52.3 million from the Electrical segment.

Excluding a favorable tax adjustment of $10.6 million, the company said, earnings per share from continuing operations was 4 percent down at $0.46. On average, twelve analysts polled by Thomson Reuters expected earnings per share of $0.50 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues increased to $327 million from prior year's $322 million. Analysts expected the company to generate revenues of $328.79 million.

Looking forward, the company anticipates 2014 first-quarter earnings in the range of $0.43 - $0.46 per share, on sales of $325 million - $3.35 million. For the first quarter, the Street expects the company to report earnings of $0.43 per share on revenues of $321.73 million.

The company continues to expect 2014 core sales growth in the range of 3-5 percent. Actuant expects total sales of $1.41 billion -1.45 billion, including about $100 million revenue from its recently acquired Viking. The company expects a 9-14 percent increase in 2014 earnings per share of about $2 - $2.10 per share, compared with 2013. Analysts expect the company to report earnings per share of $2.04, on revenues of $1.36 billion.