Milwaukee-based Actuant Corp. today reported record sales and earnings for the third quarter.
Net earnings for the quarter were $38.6 million, up from $29.6 million for the previous third quarter, and earnings per share were 60 cents, up from 47 cents for the previous third quarter.
Sales for the quarter totaled $445 million, a 15 percent increase over the prior year.
"I am pleased to report that Actuant delivered another quarter of strong sales, earnings and cash flow," said Actuant CEO Robert Arzbaecher. "Execution on profit improvement and growth initiatives during the quarter was solid and we continued to enjoy the benefit of robust demand in the global energy and truck markets. These factors more than offset the challenging conditions in the consumer-oriented recreational vehicle, retail and marine electrical markets, which weakened as the quarter progressed."
Shares of Actuant stock rose $1.54 in early morning trading to $34.02.
Actuant reports record quarterly earnings and sales
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