Actuant Q1 Profit Rises; Backs FY14 View - Quick Facts

(RTTNews) - Actuant Corp. (ATU), a diversified industrial company, Thursday reported an increase in its first-quarter net income from continuing operations, with a 10 percent growth in sales.

For the three-month period, the company reported net income from continuing operations of $33 million or $0.44 per share, compared with $30.6 million or $0.41 per share last year. Including discontinued operations, earnings per share were $0.48, a cent lower from prior year's $0.49.

On average, twelve analysts polled by Thomson Reuters expected the company to report earnings per share of $0.46 for the quarter. Analysts' estimates typically exclude one-time items.

Consolidated sales rose to $340 million, from $308 million reported a year ago. Core sales increased 5 percent, foreign currency rate changes reduced sales 1 percent, while acquisitions contributed 6 percent to total sales. Analysts expected the company to generate revenues of $334.82 million for the quarter.

The company expects second-quarter earnings per share in the range of $0.29 - $0.33, on sales of $330 million - $340 million. Analysts are looking for earnings of $0.38 per share, on revenues of $335.04 million, for the next quarter.

For the full-year 2014, the company said it still expects earnings per share of about $2.00 - $2.10 and total sales of $1.41 billion -$1.45 billion, with core sales growth expected to be 3-5 percent. Analysts expect the company to report earnings per share of $2.09, on revenues of $1.42 billion, for the year.