Exhibit 99.1
Actuant Reorganizes Business Segments
MILWAUKEE--(BUSINESS WIRE)--March 16, 2009--Actuant Corporation (NYSE:ATU) today announced that the Company’s financial reporting segments are being modified to reflect changes in the portfolio due to acquisitions as well as business reporting lines. The Company will continue to report four operating segments - Industrial, Energy, Electrical and Engineered Solutions.
The Company’s former Industrial segment is being divided into two reporting segments, Industrial and Energy, to provide additional transparency to its growing energy related businesses. The new Industrial segment includes Enerpac, Simplex, Milwaukee Cylinder, Precision Sure-Lock and TT Fijnmechanica (TTF). The Energy segment will consist of the Hydratight joint integrity business and the recently acquired Cortland rope and cable business. The Electrical segment is virtually unchanged from the Company’s previous segment reporting except for the addition of the Turner Electric business from the previous Engineered Products segment. Finally, the former Engineered Products and Actuation Systems segments, with the exception of Turner Electric, will be combined into the new Engineered Solutions segment.
In addition, Actuant announced that its reportable product lines will be reorganized into the following: Industrial, Energy, Electrical Tools & Supplies, Power Transformation, Harsh Environment Electrical, Vehicle Systems and Other.
The segment and product line changes are effective for the Company’s second fiscal quarter of 2009. For comparative purposes, the Company has included as an attachment to this release certain unaudited historical financial results for both the new and prior segment and product line reporting structures. Additional comparative historical financial information will be filed with the SEC and will also be accessible on the Company’s website at www.actuant.com. The segment reorganization does not impact the Company’s consolidated audited balance sheet, statement of earnings or cash flows.
About Actuant
Actuant, headquartered in Butler, Wisconsin, is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems, rope and cable solutions and branded hydraulic and electrical tools and supplies. Since its creation through a spin-off in 2000, Actuant has grown its sales from $482 million to $1.66 billion in fiscal 2008. The Company employs a workforce of approximately 7,000 worldwide. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its business units, visit the Company's website at www.actuant.com.
|
ACTUANT CORPORATION |
||||||||||||||||||||||||||||||||
| SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||||||
| RESULTS BY REPORTING SEGMENT | ||||||||||||||||||||||||||||||||
| NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||
| FISCAL 2006 | FISCAL 2007 | FISCAL 2008 | FISCAL 2006 | FISCAL 2007 | FISCAL 2008 | |||||||||||||||||||||||||||
| SALES | SALES | |||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 227,504 | $ | 278,733 | $ | 374,498 | INDUSTRIAL SEGMENT | $ | 337,965 | $ | 439,143 | $ | 586,898 | |||||||||||||||||||
| ENERGY SEGMENT | 110,461 | 160,410 | 212,400 | ELECTRICAL SEGMENT | 432,486 | 505,708 | 505,798 | |||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 450,558 | 527,848 | 529,964 | ACTUATION SYSTEMS SEGMENT | 386,243 | 419,445 | 445,583 | |||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 412,635 | 491,757 | 547,081 | ENGINEERED PRODUCTS SEGMENT | 44,464 | 94,452 | 125,664 | |||||||||||||||||||||||||
| TOTAL | $ | 1,201,158 | $ | 1,458,748 | $ | 1,663,943 | TOTAL | $ | 1,201,158 | $ | 1,458,748 | $ | 1,663,943 | |||||||||||||||||||
| OPERATING PROFIT | OPERATING PROFIT | |||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 66,535 | $ | 86,344 | $ | 113,809 | INDUSTRIAL SEGMENT | $ | 86,753 | $ | 121,285 | $ | 161,794 | |||||||||||||||||||
| ENERGY SEGMENT | 20,218 | 34,941 | 47,985 | ELECTRICAL SEGMENT | 41,730 | 40,084 | 33,596 | |||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 43,812 | 43,291 | 37,335 | ACTUATION SYSTEMS SEGMENT | 40,379 | 37,124 | 40,328 | |||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 44,777 | 47,371 | 53,603 | ENGINEERED PRODUCTS SEGMENT | 6,480 | 13,454 | 17,014 | |||||||||||||||||||||||||
| CORPORATE / GENERAL | (16,367 | ) | (21,079 | ) | (30,910 | ) | CORPORATE / GENERAL | (16,367 | ) | (21,079 | ) | (30,910 | ) | |||||||||||||||||||
| TOTAL - EXCLUDING RESTRUCTURING CHARGES | $ | 158,975 | $ | 190,868 | $ | 221,822 | TOTAL - EXCLUDING RESTRUCTURING CHARGES | $ | 158,975 | $ | 190,868 | $ | 221,822 | |||||||||||||||||||
| RESTRUCTURING CHARGES | (4,910 | ) | (5,395 | ) | (10,473 | ) | RESTRUCTURING CHARGES | (4,910 | ) | (5,395 | ) | (10,473 | ) | |||||||||||||||||||
| TOTAL | $ | 154,065 | $ | 185,473 | $ | 211,349 | TOTAL | $ | 154,065 | $ | 185,473 | $ | 211,349 | |||||||||||||||||||
| OPERATING PROFIT % | OPERATING PROFIT % | |||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | 29.2 | % | 31.0 | % | 30.4 | % | INDUSTRIAL SEGMENT | 25.7 | % | 27.6 | % | 27.6 | % | |||||||||||||||||||
| ENERGY SEGMENT | 18.3 | % | 21.8 | % | 22.6 | % | ELECTRICAL SEGMENT | 9.6 | % | 7.9 | % | 6.6 | % | |||||||||||||||||||
| ELECTRICAL SEGMENT | 9.7 | % | 8.2 | % | 7.0 | % | ACTUATION SYSTEMS SEGMENT | 10.5 | % | 8.9 | % | 9.1 | % | |||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 10.9 | % | 9.6 | % | 9.8 | % | ENGINEERED PRODUCTS SEGMENT | 14.6 | % | 14.2 | % | 13.5 | % | |||||||||||||||||||
| TOTAL - EXCLUDING RESTRUCTURING CHARGES | 13.2 | % | 13.1 | % | 13.3 | % | TOTAL - EXCLUDING RESTRUCTURING CHARGES | 13.2 | % | 13.1 | % | 13.3 | % | |||||||||||||||||||
| EBITDA | EBITDA | |||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 67,586 | $ | 89,672 | $ | 121,073 | INDUSTRIAL SEGMENT | $ | 93,557 | $ | 132,725 | $ | 181,342 | |||||||||||||||||||
| ENERGY SEGMENT | 25,971 | 43,053 | 60,269 | ELECTRICAL SEGMENT | 48,861 | 48,803 | 43,535 | |||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 51,257 | 52,325 | 47,573 | ACTUATION SYSTEMS SEGMENT | 50,354 | 48,993 | 53,258 | |||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 55,419 | 62,103 | 70,915 | ENGINEERED PRODUCTS SEGMENT | 7,461 | 16,632 | 21,695 | |||||||||||||||||||||||||
| CORPORATE / GENERAL | (15,555 | ) | (21,044 | ) | (30,308 | ) | CORPORATE / GENERAL | (15,555 | ) | (21,044 | ) | (30,308 | ) | |||||||||||||||||||
| TOTAL - EXCLUDING RESTRUCTURING CHARGES | $ | 184,678 | $ | 226,109 | $ | 269,522 | TOTAL - EXCLUDING RESTRUCTURING CHARGES | $ | 184,678 | $ | 226,109 | $ | 269,522 | |||||||||||||||||||
| RESTRUCTURING CHARGES | (4,910 | ) | (5,395 | ) | (10,473 | ) | RESTRUCTURING CHARGES | (4,910 | ) | (5,395 | ) | (10,473 | ) | |||||||||||||||||||
| TOTAL | $ | 179,768 | $ | 220,714 | $ | 259,049 | TOTAL | $ | 179,768 | $ | 220,714 | $ | 259,049 | |||||||||||||||||||
| EBITDA % | EBITDA % | |||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | 29.7 | % | 32.2 | % | 32.3 | % | INDUSTRIAL SEGMENT | 27.7 | % | 30.2 | % | 30.9 | % | |||||||||||||||||||
| ENERGY SEGMENT | 23.5 | % | 26.8 | % | 28.4 | % | ELECTRICAL SEGMENT | 11.3 | % | 9.7 | % | 8.6 | % | |||||||||||||||||||
| ELECTRICAL SEGMENT | 11.4 | % | 9.9 | % | 9.0 | % | ACTUATION SYSTEMS SEGMENT | 13.0 | % | 11.7 | % | 12.0 | % | |||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 13.4 | % | 12.6 | % | 13.0 | % | ENGINEERED PRODUCTS SEGMENT | 16.8 | % | 17.6 | % | 17.3 | % | |||||||||||||||||||
| TOTAL - EXCLUDING RESTRUCTURING CHARGES | 15.4 | % | 15.5 | % | 16.2 | % | TOTAL - EXCLUDING RESTRUCTURING CHARGES | 15.4 | % | 15.5 | % | 16.2 | % | |||||||||||||||||||
|
ACTUANT CORPORATION |
||||||||||||||||||||||||||
| SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||
| NET SALES BY PRODUCT LINE | ||||||||||||||||||||||||||
| NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||
| FISCAL 2006 | FISCAL 2007 | FISCAL 2008 | FISCAL 2006 | FISCAL 2007 | FISCAL 2008 | |||||||||||||||||||||
| INDUSTRIAL SEGMENT | INDUSTRIAL SEGMENT | |||||||||||||||||||||||||
| INDUSTRIAL | $ | 227,504 | $ | 278,733 | $ | 374,498 | HIGH FORCE HYDRAULIC TOOLS | $ | 227,504 | $ | 278,733 | $ | 374,498 | |||||||||||||
| ENERGY SEGMENT | ENERGY | 110,461 | 160,410 | 212,400 | ||||||||||||||||||||||
| ENERGY | 110,461 | 160,410 | 212,400 | TOTAL INDUSTRIAL | 337,965 | 439,143 | 586,898 | |||||||||||||||||||
| ELECTRICAL SEGMENT | ELECTRICAL SEGMENT | |||||||||||||||||||||||||
| ELECTRICAL TOOLS & SUPPLIES | 286,463 | 300,772 | 295,718 | NORTH AMERICAN ELECTRICAL | 140,952 | 138,767 | 128,667 | |||||||||||||||||||
| HARSH ENVIRONMENT ELECTRICAL | 77,650 | 89,874 | 111,177 | EUROPEAN ELECTRICAL | 145,511 | 162,005 | 167,051 | |||||||||||||||||||
| POWER TRANSFORMATION | 86,445 | 137,202 | 123,069 |
SPECIALTY ELECTRICAL |
77,650 | 89,874 | 111,177 | |||||||||||||||||||
| TOTAL ELECTRICAL | 450,558 | 527,848 | 529,964 | PROFESSIONAL ELECTRICAL | 68,373 | 115,062 | 98,905 | |||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | TOTAL ELECTRICAL | 432,486 | 505,708 | 505,800 | ||||||||||||||||||||||
| VEHICLE SYSTEMS | 353,440 | 384,987 | 407,963 |
ACTUATION SYSTEMS AND ENGINEERED PRODUCTS SEGMENTS |
||||||||||||||||||||||
| OTHER | 59,195 | 106,770 | 139,118 |
AUTOMOTIVE ACTUATION SYSTEMS |
111,416 |
128,337 |
140,547 |
|||||||||||||||||||
| TOTAL ENGINEERED SOLUTIONS | 412,635 | 491,757 | 547,081 |
RECREATIONAL VEHICLE ACTUATION SYSTEMS |
97,529 |
108,270 |
83,962 |
|||||||||||||||||||
| TOTAL | $ | 1,201,158 | $ | 1,458,748 | $ | 1,663,943 | TRUCK ACTUATION SYSTEMS | 144,495 | 148,380 | 183,454 | ||||||||||||||||
| OTHER | 77,267 | 128,910 | 163,282 | |||||||||||||||||||||||
|
TOTAL ACTUATION SYSTEMS AND ENGINEERED PRODUCTS |
430,707 | 513,897 | 571,245 | |||||||||||||||||||||||
| TOTAL | $ | 1,201,158 | $ | 1,458,748 | $ | 1,663,943 | ||||||||||||||||||||
| SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||
|
RESULTS BY REPORTING SEGMENT |
||||||||||||||||||||||||||||||||||||||||||||||
| NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||||||||||||||||
| FISCAL 2008 | FISCAL 2009 | FISCAL 2008 | FISCAL 2009 | |||||||||||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | |||||||||||||||||||||||||||||||||||
| SALES | SALES | |||||||||||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 87,412 | $ | 87,344 | $ | 101,593 | $ | 98,149 | $ | 374,498 | $ | 90,524 | INDUSTRIAL SEGMENT | $ | 137,089 | $ | 130,802 | $ | 160,035 | $ | 158,972 | $ | 586,898 | $ | 164,506 | |||||||||||||||||||||
| ENERGY SEGMENT | 49,677 | 43,458 | 58,442 | 60,823 | 212,400 | 73,982 | ELECTRICAL SEGMENT | 133,962 | 130,779 | 129,142 | 111,915 | 505,798 | 101,999 | |||||||||||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 140,293 | 135,785 | 135,311 | 118,575 | 529,964 | 108,057 | ACTUATION SYSTEMS SEGMENT | 112,899 | 109,764 | 122,850 | 100,070 | 445,583 | 85,347 | |||||||||||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 137,761 | 133,042 | 149,310 | 126,968 | 547,081 | 107,417 | ENGINEERED PRODUCTS SEGMENT | 31,193 | 28,284 | 32,629 | 33,558 | 125,664 | 28,128 | |||||||||||||||||||||||||||||||||
| TOTAL | $ | 415,143 | $ | 399,629 | $ | 444,656 | $ | 404,515 | $ | 1,663,943 | $ | 379,980 | TOTAL | $ | 415,143 | $ | 399,629 | $ | 444,656 | $ | 404,515 | $ | 1,663,943 | $ | 379,980 | |||||||||||||||||||||
| OPERATING PROFIT | OPERATING PROFIT | |||||||||||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 25,662 | $ | 25,990 | $ | 31,054 | $ | 31,103 | $ | 113,809 | $ | 26,007 | INDUSTRIAL SEGMENT | $ | 37,976 | $ | 32,757 | $ | 43,692 | $ | 47,369 | $ | 161,794 | $ | 41,544 | |||||||||||||||||||||
| ENERGY SEGMENT | 12,314 | 6,767 | 12,638 | 16,266 | 47,985 | 15,537 | ELECTRICAL SEGMENT | 10,426 | 11,239 | 8,074 | 3,858 | 33,596 | 3,762 | |||||||||||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 11,614 | 11,842 | 8,986 | 4,894 | 37,335 | 4,648 | ACTUATION SYSTEMS SEGMENT | 10,059 | 8,301 | 13,705 | 8,263 | 40,328 | 5,979 | |||||||||||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 13,106 | 10,844 | 17,053 | 12,600 | 53,603 | 8,222 | ENGINEERED PRODUCTS SEGMENT | 4,235 | 3,146 | 4,260 | 5,373 | 17,014 | 3,129 | |||||||||||||||||||||||||||||||||
| CORPORATE / GENERAL | (6,415 | ) | (7,743 | ) | (8,203 | ) | (8,549 | ) | (30,910 | ) | (3,197 | ) | CORPORATE / GENERAL | (6,415 | ) | (7,743 | ) | (8,203 | ) | (8,549 | ) | (30,910 | ) | (3,197 | ) | |||||||||||||||||||||
| TOTAL - EXCLUDING RESTRUCTURING CHARGES | $ | 56,281 | $ | 47,700 | $ | 61,528 | $ | 56,314 | $ | 221,822 | $ | 51,217 | TOTAL - EXCLUDING RESTRUCTURING CHARGES | $ | 56,281 | $ | 47,700 | $ | 61,528 | $ | 56,314 | $ | 221,822 | 51,217 | ||||||||||||||||||||||
| IMPAIRMENT CHARGE | - | - | - | - | - | (26,553 | ) | IMPAIRMENT CHARGE | - | - | - | - | - | (26,553 | ) | |||||||||||||||||||||||||||||||
| RESTRUCTURING CHARGE | (5,521 | ) | (4,952 | ) | - | - | (10,473 | ) | - | RESTRUCTURING CHARGE | (5,521 | ) | (4,952 | ) | - | - | (10,473 | ) | - | |||||||||||||||||||||||||||
| TOTAL | $ | 50,760 | $ | 42,748 | $ | 61,528 | $ | 56,314 | $ | 211,349 | $ | 24,664 | TOTAL | $ | 50,760 | $ | 42,748 | $ | 61,528 | $ | 56,314 | $ | 211,349 | $ | 24,664 | |||||||||||||||||||||
| OPERATING PROFIT % | OPERATING PROFIT % | |||||||||||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | 29.4 | % | 29.8 | % | 30.6 | % | 31.7 | % | 30.4 | % | 28.7 | % | INDUSTRIAL SEGMENT | 27.7 | % | 25.0 | % | 27.3 | % | 29.8 | % | 27.6 | % | 25.3 | % | |||||||||||||||||||||
| ENERGY SEGMENT | 24.8 | % | 15.6 | % | 21.6 | % | 26.7 | % | 22.6 | % | 21.0 | % | ELECTRICAL SEGMENT | 7.8 | % | 8.6 | % | 6.3 | % | 3.4 | % | 6.6 | % | 3.7 | % | |||||||||||||||||||||
| ELECTRICAL SEGMENT | 8.3 | % | 8.7 | % | 6.6 | % | 4.1 | % | 7.0 | % | 4.3 | % | ACTUATION SYSTEMS SEGMENT | 8.9 | % | 7.6 | % | 11.2 | % | 8.3 | % | 9.1 | % | 7.0 | % | |||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 9.5 | % | 8.2 | % | 11.4 | % | 9.9 | % | 9.8 | % | 7.7 | % | ENGINEERED PRODUCTS SEGMENT | 13.6 | % | 11.1 | % | 13.1 | % | 16.0 | % | 13.5 | % | 11.1 | % | |||||||||||||||||||||
|
TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES |
13.6 | % | 11.9 | % | 13.8 | % | 13.9 | % | 13.3 | % | 13.5 | % |
TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES |
13.6 | % | 11.9 | % | 13.8 | % | 13.9 | % | 13.3 | % | 13.5 | % | |||||||||||||||||||||
| EBITDA | EBITDA | |||||||||||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 28,017 | $ | 27,840 | $ | 32,617 | $ | 32,599 | $ | 121,073 | $ | 27,039 | INDUSTRIAL SEGMENT | $ | 42,570 | $ | 37,386 | $ | 48,388 | $ | 52,998 | $ | 181,342 | $ | 48,600 | |||||||||||||||||||||
| ENERGY SEGMENT | 14,553 | 9,546 | 15,771 | 20,399 | 60,269 | 21,561 | ELECTRICAL SEGMENT | 13,226 | 13,661 | 10,562 | 6,087 | 43,535 | 5,144 | |||||||||||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 14,495 | 14,340 | 11,553 | 7,186 | 47,573 | 6,103 | ACTUATION SYSTEMS SEGMENT | 13,292 | 11,428 | 16,402 | 12,136 | 53,258 | 9,336 | |||||||||||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 17,422 | 15,194 | 20,811 | 17,488 | 70,915 | 12,904 | ENGINEERED PRODUCTS SEGMENT | 5,399 | 4,445 | 5,400 | 6,451 | 21,695 | 4,527 | |||||||||||||||||||||||||||||||||
| CORPORATE / GENERAL | (6,632 | ) | (7,522 | ) | (7,991 | ) | (8,163 | ) | (30,308 | ) | (3,110 | ) | CORPORATE / GENERAL | (6,632 | ) | (7,522 | ) | (7,991 | ) | (8,163 | ) | (30,308 | ) | (3,110 | ) | |||||||||||||||||||||
| TOTAL - EXCLUDING IMPAIRMENT / | $ | 67,855 | $ | 59,398 | $ | 72,761 | $ | 69,509 | $ | 269,522 | $ | 64,497 | TOTAL - EXCLUDING IMPAIRMENT / | $ | 67,855 | $ | 59,398 | $ | 72,761 | $ | 69,509 | $ | 269,522 | $ | 64,497 | |||||||||||||||||||||
| RESTRUCTURING CHARGES | RESTRUCTURING CHARGES | |||||||||||||||||||||||||||||||||||||||||||||
| IMPAIRMENT CHARGE | - | - | - | - | - | (26,553 | ) | IMPAIRMENT CHARGE | - | - | - | - | - | (26,553 | ) | |||||||||||||||||||||||||||||||
| RESTRUCTURING CHARGE | (5,521 | ) | (4,952 | ) | - | - | (10,473 | ) | - | RESTRUCTURING CHARGE | (5,521 | ) | (4,952 | ) | - | - | (10,473 | ) | - | |||||||||||||||||||||||||||
| TOTAL | $ | 62,334 | $ | 54,446 | $ | 72,761 | $ | 69,509 | $ | 259,049 | $ | 37,944 | TOTAL | $ | 62,334 | $ | 54,446 | $ | 72,761 | $ | 69,509 | $ | 259,049 | $ | 37,944 | |||||||||||||||||||||
| EBITDA % | EBITDA % | |||||||||||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | 32.1 | % | 31.9 | % | 32.1 | % | 33.2 | % | 32.3 | % | 29.9 | % | INDUSTRIAL SEGMENT | 31.1 | % | 28.6 | % | 30.2 | % | 33.3 | % | 30.9 | % | 29.5 | % | |||||||||||||||||||||
| ENERGY SEGMENT | 29.3 | % | 22.0 | % | 27.0 | % | 33.5 | % | 28.4 | % | 29.1 | % | ELECTRICAL SEGMENT | 9.9 | % | 10.4 | % | 8.2 | % | 5.4 | % | 8.6 | % | 5.0 | % | |||||||||||||||||||||
| ELECTRICAL SEGMENT | 10.3 | % | 10.6 | % | 8.5 | % | 6.1 | % | 9.0 | % | 5.6 | % | ACTUATION SYSTEMS SEGMENT | 11.8 | % | 10.4 | % | 13.4 | % | 12.1 | % | 12.0 | % | 10.9 | % | |||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 12.6 | % | 11.4 | % | 13.9 | % | 13.8 | % | 13.0 | % | 12.0 | % | ENGINEERED PRODUCTS SEGMENT | 17.3 | % | 15.7 | % | 16.5 | % | 19.2 | % | 17.3 | % | 16.1 | % | |||||||||||||||||||||
|
TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES |
16.3 | % | 14.9 | % | 16.4 | % | 17.2 | % | 16.2 | % | 17.0 | % |
TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES |
16.3 | % | 14.9 | % | 16.4 | % | 17.2 | % | 16.2 | % | 17.0 | % | |||||||||||||||||||||
| ACTUANT CORPORATION | ||||||||||||||||||||||||||||||||||||||
| SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||
|
RESULTS BY REPORTING SEGMENT |
||||||||||||||||||||||||||||||||||||||
| NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||||||||
| FISCAL 2007 | FISCAL 2007 | |||||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||||||||||||||
| SALES | SALES | |||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 63,945 | $ | 65,626 | $ | 73,556 | $ | 75,606 | $ | 278,733 | INDUSTRIAL SEGMENT | $ | 103,935 | $ | 96,501 | $ | 115,852 | $ | 122,855 | $ | 439,143 | |||||||||||||||||
| ENERGY SEGMENT | 39,990 | 30,875 | 42,296 | 47,249 | 160,410 | ELECTRICAL SEGMENT | 122,017 | 123,599 | 127,653 | 132,439 | 505,708 | |||||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 127,088 | 128,605 | 133,683 | 138,472 | 527,848 | ACTUATION SYSTEMS SEGMENT | 105,654 | 97,656 | 111,768 | 104,367 | 419,445 | |||||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 111,960 | 115,914 | 135,555 | 128,328 | 491,757 | ENGINEERED PRODUCTS SEGMENT | 11,377 | 23,264 | 29,817 | 29,994 | 94,452 | |||||||||||||||||||||||||||
| TOTAL | $ | 342,983 | $ | 341,020 | $ | 385,090 | $ | 389,655 | $ | 1,458,748 | TOTAL | $ | 342,983 | $ | 341,020 | $ | 385,090 | $ | 389,655 | $ | 1,458,748 | |||||||||||||||||
| OPERATING PROFIT | OPERATING PROFIT | |||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 18,814 | $ | 19,919 | $ | 23,154 | $ | 24,457 | $ | 86,344 | INDUSTRIAL SEGMENT | $ | 28,958 | $ | 24,203 | $ | 33,259 | $ | 34,865 | $ | 121,285 | |||||||||||||||||
| ENERGY SEGMENT | 10,144 | 4,284 | 10,105 | 10,408 | 34,941 | ELECTRICAL SEGMENT | 9,357 | 9,535 | 10,341 | 10,851 | 40,084 | |||||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 10,115 | 10,309 | 11,192 | 11,675 | 43,291 | ACTUATION SYSTEMS SEGMENT | 8,614 | 7,954 | 10,994 | 9,562 | 37,124 | |||||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 9,509 | 10,268 | 14,212 | 13,382 | 47,371 | ENGINEERED PRODUCTS SEGMENT | 1,653 | 3,088 | 4,069 | 4,644 | 13,454 | |||||||||||||||||||||||||||
| CORPORATE / GENERAL | (4,944 | ) | (4,105 | ) | (5,756 | ) | (6,274 | ) | (21,079 | ) | CORPORATE / GENERAL | (4,944 | ) | (4,105 | ) | (5,756 | ) | (6,274 | ) | (21,079 | ) | |||||||||||||||||
| TOTAL - EXCLUDING IMPAIRMENT / | $ | 43,638 | $ | 40,675 | $ | 52,907 | $ | 53,648 | $ | 190,868 | TOTAL - EXCLUDING IMPAIRMENT / | $ | 43,638 | $ | 40,675 | $ | 52,907 | $ | 53,648 | $ | 190,868 | |||||||||||||||||
| RESTRUCTURING CHARGES | RESTRUCTURING CHARGES | |||||||||||||||||||||||||||||||||||||
| IMPAIRMENT CHARGE | - | - | - | - | - | IMPAIRMENT CHARGE | - | - | - | - | - | |||||||||||||||||||||||||||
| EUROPEAN ELECTRICAL RESTRUCTURING CHARGE | (109 | ) | (3,776 | ) | (434 | ) | (1,076 | ) | (5,395 | ) | EUROPEAN ELECTRICAL RESTRUCTURING CHARGE | (109 | ) | (3,776 | ) | (434 | ) | (1,076 | ) | (5,395 | ) | |||||||||||||||||
| TOTAL | $ | 43,529 | $ | 36,899 | $ | 52,473 | $ | 52,572 | $ | 185,473 | TOTAL | $ | 43,529 | $ | 36,899 | $ | 52,473 | $ | 52,572 | $ | 185,473 | |||||||||||||||||
| OPERATING PROFIT % | OPERATING PROFIT % | |||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | 29.4 | % | 30.4 | % | 31.5 | % | 32.3 | % | 31.0 | % | INDUSTRIAL SEGMENT | 27.9 | % | 25.1 | % | 28.7 | % | 28.4 | % | 27.6 | % | |||||||||||||||||
| ENERGY SEGMENT | 25.4 | % | 13.9 | % | 23.9 | % | 22.0 | % | 21.8 | % | ELECTRICAL SEGMENT | 7.7 | % | 7.7 | % | 8.1 | % | 8.2 | % | 7.9 | % | |||||||||||||||||
| ELECTRICAL SEGMENT | 8.0 | % | 8.0 | % | 8.4 | % | 8.4 | % | 8.2 | % | ACTUATION SYSTEMS SEGMENT | 8.2 | % | 8.1 | % | 9.8 | % | 9.2 | % | 8.9 | % | |||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 8.5 | % | 8.9 | % | 10.5 | % | 10.4 | % | 9.6 | % | ENGINEERED PRODUCTS SEGMENT | 14.5 | % | 13.3 | % | 13.6 | % | 15.5 | % | 14.2 | % | |||||||||||||||||
|
TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / |
12.7 | % | 11.9 | % | 13.7 | % | 13.8 | % | 13.1 | % |
TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / |
12.7 | % | 11.9 | % | 13.7 | % | 13.8 | % | 13.1 | % | |||||||||||||||||
|
RESTRUCTURING CHARGES |
RESTRUCTURING CHARGES |
|||||||||||||||||||||||||||||||||||||
| EBITDA | EBITDA | |||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | $ | 19,347 | $ | 20,572 | $ | 23,507 | $ | 26,246 | $ | 89,672 | INDUSTRIAL SEGMENT | $ | 31,356 | $ | 26,475 | $ | 35,738 | $ | 39,156 | $ | 132,725 | |||||||||||||||||
| ENERGY SEGMENT | 12,009 | 5,903 | 12,231 | 12,910 | 43,053 | ELECTRICAL SEGMENT | 11,543 | 11,404 | 12,355 | 13,501 | 48,803 | |||||||||||||||||||||||||||
| ELECTRICAL SEGMENT | 12,382 | 12,255 | 13,284 | 14,404 | 52,325 | ACTUATION SYSTEMS SEGMENT | 11,339 | 10,928 | 14,179 | 12,547 | 48,993 | |||||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 12,404 | 14,063 | 18,212 | 17,424 | 62,103 | ENGINEERED PRODUCTS SEGMENT | 1,904 | 3,986 | 4,962 | 5,780 | 16,632 | |||||||||||||||||||||||||||
| CORPORATE / GENERAL | (4,844 | ) | (4,028 | ) | (5,822 | ) | (6,350 | ) | (21,044 | ) | CORPORATE / GENERAL | (4,844 | ) | (4,028 | ) | (5,822 | ) | (6,350 | ) | (21,044 | ) | |||||||||||||||||
| TOTAL - EXCLUDING IMPAIRMENT / | $ | 51,298 | $ | 48,765 | $ | 61,412 | $ | 64,634 | $ | 226,109 | TOTAL - EXCLUDING IMPAIRMENT / | $ | 51,298 | $ | 48,765 | $ | 61,412 | $ | 64,634 | $ | 226,109 | |||||||||||||||||
| RESTRUCTURING CHARGES | RESTRUCTURING CHARGES | |||||||||||||||||||||||||||||||||||||
| IMPAIRMENT CHARGE | - | - | - | - | - | IMPAIRMENT CHARGE | - | - | - | - | - | |||||||||||||||||||||||||||
| EUROPEAN ELECTRICAL RESTRUCTURING CHARGE | (109 | ) | (3,776 | ) | (434 | ) | (1,076 | ) | (5,395 | ) | EUROPEAN ELECTRICAL RESTRUCTURING CHARGE | (109 | ) | (3,776 | ) | (434 | ) | (1,076 | ) | (5,395 | ) | |||||||||||||||||
| TOTAL | $ | 51,189 | $ | 44,989 | $ | 60,978 | $ | 63,558 | $ | 220,714 | TOTAL | $ | 51,189 | $ | 44,989 | $ | 60,978 | $ | 63,558 | $ | 220,714 | |||||||||||||||||
| EBITDA % | EBITDA % | |||||||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | 30.3 | % | 31.3 | % | 32.0 | % | 34.7 | % | 32.2 | % | INDUSTRIAL SEGMENT | 30.2 | % | 27.4 | % | 30.8 | % | 31.9 | % | 30.2 | % | |||||||||||||||||
| ENERGY SEGMENT | 30.0 | % | 19.1 | % | 28.9 | % | 27.3 | % | 26.8 | % | ELECTRICAL SEGMENT | 9.5 | % | 9.2 | % | 9.7 | % | 10.2 | % | 9.7 | % | |||||||||||||||||
| ELECTRICAL SEGMENT | 9.7 | % | 9.5 | % | 9.9 | % | 10.4 | % | 9.9 | % | ACTUATION SYSTEMS SEGMENT | 10.7 | % | 11.2 | % | 12.7 | % | 12.0 | % | 11.7 | % | |||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | 11.1 | % | 12.1 | % | 13.4 | % | 13.6 | % | 12.6 | % | ENGINEERED PRODUCTS SEGMENT | 16.7 | % | 17.1 | % | 16.6 | % | 19.3 | % | 17.6 | % | |||||||||||||||||
|
TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / |
15.0 | % | 14.3 | % | 15.9 | % | 16.6 | % | 15.5 | % |
TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / |
15.0 | % | 14.3 | % | 15.9 | % | 16.6 | % | 15.5 | % | |||||||||||||||||
|
RESTRUCTURING CHARGES |
RESTRUCTURING CHARGES |
|||||||||||||||||||||||||||||||||||||
| ACTUANT CORPORATION | |||||||||||||||||||||||||||||||||||||||||||
| SUPPLEMENTAL UNAUDITED DATA | |||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||||||||||||||||||||||
| NET SALES BY PRODUCT LINE | |||||||||||||||||||||||||||||||||||||||||||
| NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | ||||||||||||||||||||||||||||||||||||||||||
| FISCAL 2008 | FISCAL 2009 | FISCAL 2008 | FISCAL 2009 | ||||||||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | ||||||||||||||||||||||||||||||||
| INDUSTRIAL SEGMENT | INDUSTRIAL SEGMENT | ||||||||||||||||||||||||||||||||||||||||||
| INDUSTRIAL | $ | 87,412 | $ | 87,344 | $ | 101,593 | $ | 98,149 | $ | 374,498 | $ | 90,524 | HIGH FORCE HYDRAULIC TOOLS | $ | 87,412 | $ | 87,344 | $ | 101,593 | $ | 98,149 | $ | 374,498 | $ | 90,523 | ||||||||||||||||||
| ENERGY SEGMENT | ENERGY | 49,677 | 43,458 | 58,442 | 60,823 | 212,400 | 73,982 | ||||||||||||||||||||||||||||||||||||
| ENERGY | 49,677 | 43,458 | 58,442 | 60,823 | 212,400 | 73,982 | TOTAL INDUSTRIAL | 137,089 | 130,802 | 160,035 | 158,972 | 586,898 | 164,505 | ||||||||||||||||||||||||||||||
| ELECTRICAL SEGMENT | ELECTRICAL SEGMENT | ||||||||||||||||||||||||||||||||||||||||||
| ELECTRICAL TOOLS & SUPPLIES | 79,326 | 76,658 | 72,534 | 67,200 | 295,718 | 63,195 | NORTH AMERICAN ELECTRICAL | 35,150 | 33,549 | 31,110 | 28,858 | 128,667 | 27,680 | ||||||||||||||||||||||||||||||
| HARSH ENVIRONMENT ELECTRICAL | 29,604 | 28,894 | 30,404 | 22,275 | 111,177 | 18,336 | EUROPEAN ELECTRICAL | 44,176 | 43,109 | 41,424 | 38,342 | 167,051 | 35,515 | ||||||||||||||||||||||||||||||
| POWER TRANSFORMATION | 31,363 | 30,233 | 32,373 | 29,100 | 123,069 | 26,526 | SPECIALTY ELECTRICAL | 29,604 | 28,894 | 30,404 | 22,275 | 111,177 | 18,336 | ||||||||||||||||||||||||||||||
| TOTAL ELECTRICAL | 140,293 | 135,785 | 135,311 | 118,575 | 529,964 | 108,057 | PROFESSIONAL ELECTRICAL | 25,032 | 25,227 | 26,204 | 22,442 | 98,905 | 20,469 | ||||||||||||||||||||||||||||||
| ENGINEERED SOLUTIONS SEGMENT | TOTAL ELECTRICAL | 133,962 | 130,779 | 129,142 | 111,917 | 505,800 | 102,000 | ||||||||||||||||||||||||||||||||||||
| VEHICLE SYSTEMS | 103,419 | 100,159 | 113,065 | 91,320 | 407,963 | 72,749 | ACTUATION SYSTEMS AND ENGINEERED | ||||||||||||||||||||||||||||||||||||
| OTHER | 34,342 | 32,883 | 36,245 | 35,648 | 139,118 | 34,668 | PRODUCTS SEGMENT | ||||||||||||||||||||||||||||||||||||
| TOTAL ENGINEERED SOLUTIONS | 137,761 | 133,042 | 149,310 | 126,968 | 547,081 | 107,417 | AUTOMOTIVE ACTUATION SYSTEMS | 45,533 | 32,676 | 42,105 | 20,233 | 140,547 | 20,474 | ||||||||||||||||||||||||||||||
| RECREATIONAL VEHICLE ACTUATION SYSTEMS | 32,531 | 22,069 | 21,624 | 7,738 | 83,962 | 11,685 | |||||||||||||||||||||||||||||||||||||
| TOTAL | $ | 415,143 | $ | 399,629 | $ | 444,656 | $ | 404,515 | $ | 1,663,943 | $ | 379,980 | TRUCK ACTUATION SYSTEMS | 25,355 | 45,414 | 49,336 | 63,349 | 183,454 | 40,590 | ||||||||||||||||||||||||
| OTHER | 40,673 | 37,889 | 42,414 | 42,306 | 163,282 | 40,726 | |||||||||||||||||||||||||||||||||||||
|
TOTAL ACTUATION SYSTEMS AND ENGINEERED PRODUCTS |
144,092 | 138,048 | 155,479 | 133,626 | 571,245 | 113,475 | |||||||||||||||||||||||||||||||||||||
| TOTAL | $ | 415,143 | $ | 399,629 | $ | 444,656 | $ | 404,515 | $ | 1,663,943 | $ | 379,980 | |||||||||||||||||||||||||||||||
| ACTUANT CORPORATION | ||||||||||||||||||||||||||||||||||||
| SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
| NET SALES BY PRODUCT LINE | ||||||||||||||||||||||||||||||||||||
| NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||||||
| FISCAL 2007 | FISCAL 2007 | |||||||||||||||||||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||||||||||||
|
INDUSTRIAL SEGMENT |
INDUSTRIAL SEGMENT | |||||||||||||||||||||||||||||||||||
| INDUSTRIAL | $ | 63,945 | $ | 65,626 | $ | 73,556 | $ | 75,606 | $ | 278,733 | HIGH FORCE HYDRAULIC TOOLS | $ | 63,944 | $ | 65,625 | $ | 73,556 | $ | 75,608 | $ | 278,733 | |||||||||||||||
|
ENERGY SEGMENT |
ENERGY SEGMENT |
39,990 | 30,875 | 42,296 | 47,249 | 160,410 | ||||||||||||||||||||||||||||||
| ENERGY | 39,990 | 30,875 | 42,296 | 47,249 | 160,410 | TOTAL INDUSTRIAL | 103,934 | 96,500 | 115,852 | 122,857 | 439,143 | |||||||||||||||||||||||||
|
ELECTRICAL SEGMENT |
ELECTRICAL SEGMENT | |||||||||||||||||||||||||||||||||||
| ELECTRICAL TOOLS & SUPPLIES | 76,907 | 75,331 | 74,113 | 74,421 | 300,772 | NORTH AMERICAN ELECTRICAL | 33,562 | 34,163 | 34,771 | 36,271 | 138,767 | |||||||||||||||||||||||||
| HARSH ENVIRONMENT ELECTRICAL | 18,242 | 20,620 | 23,320 | 27,692 | 89,874 | EUROPEAN ELECTRICAL | 43,344 | 41,167 | 39,342 | 38,152 | 162,005 | |||||||||||||||||||||||||
| POWER TRANSFORMATION | 31,939 | 32,654 | 36,250 | 36,359 | 137,202 | SPECIALTY ELECTRICAL | 18,243 | 20,620 | 23,320 | 27,691 | 89,874 | |||||||||||||||||||||||||
| TOTAL ELECTRICAL | 127,088 | 128,605 | 133,683 | 138,472 | 527,848 | PROFESSIONAL ELECTRICAL | 26,868 | 27,649 | 30,220 | 30,325 | 115,062 | |||||||||||||||||||||||||
|
ENGINEERED SOLUTIONS |
TOTAL ELECTRICAL | 122,017 | 123,599 | 127,653 | 132,439 | 505,708 | ||||||||||||||||||||||||||||||
| VEHICLE SYSTEMS | 97,988 | 88,640 | 102,657 | 95,702 | 384,987 | ACTUATION SYSTEMS AND ENGINEERED | ||||||||||||||||||||||||||||||
| OTHER | 13,972 | 27,274 | 32,898 | 32,626 | 106,770 | PRODUCTS SEGMENTS | ||||||||||||||||||||||||||||||
| TOTAL ENGINEERED SOLUTIONS | 111,960 | 115,914 | 135,555 | 128,328 | 491,757 | AUTOMOTIVE ACTUATION SYSTEMS | 32,328 | 28,760 | 36,194 | 31,055 | 128,337 | |||||||||||||||||||||||||
| RECREATIONAL VEHICLE ACTUATION SYSTEMS | 24,173 | 26,024 | 29,611 | 28,462 | 108,270 | |||||||||||||||||||||||||||||||
| TOTAL | $ | 342,983 | $ | 341,020 | $ | 385,090 | $ | 389,655 | $ | 1,458,748 | TRUCK ACTUATION SYSTEMS | 41,487 | 33,858 | 36,853 | 36,182 | 148,380 | ||||||||||||||||||||
| OTHER | 19,044 | 32,279 | 38,927 | 38,660 | 128,910 | |||||||||||||||||||||||||||||||
| TOTAL ACTUATION SYSTEMS AND | 117,032 | 120,921 | 141,585 | 134,359 | 513,897 | |||||||||||||||||||||||||||||||
| ENGINEERED PRODUCTS | ||||||||||||||||||||||||||||||||||||
| TOTAL | $ | 342,983 | $ | 341,020 | $ | 385,090 | $ | 389,655 | $ | 1,458,748 | ||||||||||||||||||||||||||
CONTACT:
Karen Bauer
Director, Investor Relations
262-373-7462