MILWAUKEE--(BUSINESS WIRE)--June 17, 2009--Actuant Corporation (NYSE: ATU) today announced sales and earnings for its third quarter ended May 31, 2009.

Robert C. Arzbaecher, Chairman and CEO of Actuant commented, “While the third quarter proved to be more challenging than we anticipated, I am pleased with the response of our leadership team and employees in delivering strong cash flow and executing our aggressive restructuring initiatives. Overall third quarter core sales declined 33% versus last year’s comparable quarter, a weakening from the second quarter. We were pleased with the Energy segment’s core growth in the quarter. While several of our end markets have begun to experience stabilization in demand, we encountered further weakening in certain later cycle businesses including those in our Industrial segment. Despite the lower sales, our operating margins (excluding restructuring and impairment charges) improved sequentially across all four segments as benefits from cost reduction and restructuring activities were realized. These actions drove a 7% decline in headcount during our third quarter, 21% fiscal year-to-date, and will result in additional position eliminations upon completion. We also had positive results from our focus on ROIC (Return on Invested Capital) and working capital management which helped drive the robust cash flow in the quarter.”

Sales for the quarter declined 35% to $290 million compared to $445 million in the third quarter of fiscal 2008. Excluding the impact of foreign currency rate changes (-4%) and acquisitions (+2%), core sales declined 33%. The net loss and diluted loss per share in the fiscal 2009 third quarter were $17.6 million and $0.31, respectively, compared to net earnings of $38.6 million and diluted earnings per share (“EPS”) of $0.60 in the comparable quarter last year. Results for the third quarter of 2009 include the previously announced $31.7 million pre-tax ($0.39 per diluted share) non-cash asset impairment charge related to the Company’s harsh environment electrical product line, as well as restructuring charges of $12.2 million, or $0.12 per diluted share. Third quarter 2008 results include a tax benefit of $2.6 million, or $0.04 per diluted share. Excluding these items, EPS was $0.20 in the third quarter of fiscal 2009 compared to $0.56 in the prior year’s quarter. (See attached reconciliation of earnings).

Sales for the nine months ended May 31, 2009 were $970 million, 23% lower than the $1,259 million in the comparable prior year period. Excluding the impact of the stronger US dollar (-4%) and sales from acquired businesses (+4%), year-to-date core sales decreased 23%. The net loss for the nine months ended May 31, 2009 was $2.8 million, or $0.05 per diluted share, compared to net earnings of $88.3 million, or $1.39 per diluted share for the comparable prior year period. Year-to-date fiscal 2009 results include $58.3 million ($0.68 per diluted share) of non-cash asset impairment charges and $16.1 million ($0.17 per diluted share) of restructuring charges. Results for the nine months ended May 31, 2008 include $10.5 million ($0.16 per diluted share) of restructuring charges and a tax benefit of $2.6 million ($0.04 per diluted share). Excluding these items, current year nine month EPS was $0.75, compared to $1.51 for the comparable prior year period. (See attached reconciliation of earnings).

(1) Results for the three and nine months ended May 31, 2009 exclude restructuring charges of $1.0 million and $1.5 million, respectively.

Third quarter fiscal 2009 Industrial segment sales decreased 38% to $63 million. Excluding foreign currency rate changes (-4%), Industrial segment core sales were 34% lower than the comparable prior year period and sequentially down from the second quarter. The core sales decline reflected weaker global end market demand across the segment’s diverse channels. Third quarter operating profit margin (excluding restructuring costs) declined 580 basis points from the prior year due to the reduced sales volume, unfavorable mix and lower absorption associated with inventory reductions. However, margins (excluding restructuring costs) improved 250 basis points sequentially from the second quarter of fiscal 2009 despite lower sales due to the benefits of headcount reductions and other cost alignment actions. The Industrial segment’s headcount was reduced by 7% during the quarter and 22% on a fiscal year-to-date basis.

(2) Results for the three and nine months ended May 31, 2009 exclude restructuring charges of $0.3 million.

Fiscal 2009 third quarter Energy segment sales grew 7% to $62 million. Acquisitions contributed 18% to sales while the stronger US dollar reduced sales by 14%. Core sales grew 3% due to higher maintenance activity in the global oil & gas and power generation markets, predominately outside of North America. Operating profit margin (excluding restructuring costs) declined 270 basis points year-over-year reflecting unfavorable acquisition mix which more than offset base business margin expansion. Operating margins (excluding restructuring costs) increased 900 basis points from the second quarter’s seasonally weak results.

(3) Results for the three and nine months ended May 31, 2009 exclude a $31.7 million pre-tax non-cash asset impairment charge. In addition, results for the three and nine months ended May 31, 2009 exclude restructuring charges of $7.1 million and $8.5 million, respectively. Results for the nine months ended May 31, 2008 exclude restructuring charges of $10.5 million.

Electrical segment fiscal 2009 third quarter sales declined 37% to $85 million. The stronger US dollar contributed 3% to the sales decline. Core sales decreased 34% reflecting continued weak demand from marine, retail and transformer customers, the impact of SKU reductions in Europe and the previously disclosed loss of certain retail business in North America. Sequentially, the electrical tools and supplies product line improved modestly while sales to OEM boat builders continued to decline. Year-over-year third quarter operating profit margin (excluding restructuring and impairment charges) declined to 2.2% primarily reflecting lower sales and production volumes. Sequentially, operating profit margin (excluding restructuring and impairment charges) improved 180 basis points from the second quarter of fiscal 2009 benefiting from cost reduction activities in the segment. Total headcount declined approximately 9% during the quarter and has been reduced by approximately 25% during the fiscal year.

(4) Results for the three months ended May 31, 2009 exclude restructuring charges of $3.7 million. Results for the nine months ended May 31, 2009 exclude a $26.6 million pre-tax non-cash RV asset impairment charge and $5.3 million of restructuring charges.

Third quarter fiscal 2009 Engineered Solutions segment sales declined 46% (-44% core, -5% currency translation and +3% acquisitions) reflecting sharply lower demand from the Company’s vehicle end markets. The segment’s rate of change in sales has begun to stabilize and has been consistent for the past five months through May 2009. Third quarter operating margin (excluding restructuring) of 2.1% reflects the significant reduction in sales and lower manufacturing overhead absorption. Compared to the second quarter of fiscal 2009, margins (excluding restructuring) improved 480 basis points due to the benefits of restructuring actions. The segment’s headcount was reduced by approximately 7% during the quarter and 27% during the fiscal year.

Corporate expenses for the third quarter of fiscal 2009, excluding restructuring charges of approximately $0.2 million, were $4.8 million compared to $8.2 million in last year’s comparable quarter primarily due to lower incentive compensation expense, salary and headcount reductions as well as reduced discretionary spending.

Net debt at May 31, 2009 was $594 million (total debt of $607 million less $13 million of cash). The approximate $65 million reduction during the quarter resulted from the Company’s strong free cash flow generation which included substantial working capital reductions.

The Company previously announced it had secured an amendment to its $515 million bank credit facility, providing additional flexibility with respect to financial covenants, while maintaining its size and maturity.

Arzbaecher continued, “As we move into the fourth quarter, we are encouraged that revenues have begun to stabilize in several of our end markets and that improved consumer confidence, higher oil prices and global stimulus investments could benefit the Actuant businesses. However, we are attempting to be realistic in our expectations that global economic conditions, including higher unemployment and lagging European demand, will constrain growth in the near term. As such, we plan to continue to aggressively execute restructuring and cost reduction actions which we estimate will reduce fourth quarter pre-tax earnings by approximately $5 million. Additionally, we remain focused on reducing inventory, which we expect will continue to negatively impact our profit margins due to lower fixed cost absorption. Given these factors, we are estimating fourth quarter EPS to be in the range of $0.12 to $0.20 (excluding restructuring charges) on sales of $275 - $295 million. Based on this fourth quarter guidance, full year fiscal 2009 sales and EPS are expected to be $1,245-$1,265 million and $0.87-$0.95 (excluding restructuring and impairment charges), respectively. For the year, we expect free cash flow of approximately $125 million. We have and will continue to reduce costs throughout our operations. We believe these actions and our focus on cash flow will position us well to capitalize on the opportunities that we expect will emerge as the business environment begins to improve.”

An investor conference call is scheduled for 10am CT today, June 17, 2009. Webcast information and conference call materials will be made available on the Actuant company website (www.actuant.com) prior to the start of the call.

Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. Management cautions that these statements are based on current estimates of future performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. Actuant’s results are also subject to general economic conditions, variation in demand from customers, the impact of geopolitical activity on the economy, continued market acceptance of the Company’s new product introductions, the successful integration of acquisitions, restructuring, operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material and labor cost increases, foreign currency fluctuations and interest rate risk. See the Company’s Form 10-K filed with the Securities and Exchange Commission for further information regarding risk factors. Actuant disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or any other reason.

Actuant, headquartered in Butler, Wisconsin, is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are market leaders in branded hydraulic and electrical tools and supplies, umbilical, rope and cable solutions and highly engineered position and motion control systems. 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 6,200 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
Condensed Consolidated Balance Sheets
(Dollars in thousands)
(Unaudited)

			May 31,		August 31,
			2009		2008

ASSETS
Current assets
	Cash and cash equivalents		$ 13,292		$ 122,549
	Accounts receivable, net		159,596		226,564
	Inventories, net		188,440		215,391
	Deferred income taxes		11,451		11,870
	Other current assets		13,841		16,092
		Total current assets	386,620		592,466

Property, plant and equipment, net			134,020		134,550
Goodwill			712,307		639,862
Other intangible assets, net			353,823		292,359
Other long-term assets			13,780		9,145

		Total assets	$ 1,600,550		$ 1,668,382


LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
	Short-term borrowings		$ 174		$ 339
	Trade accounts payable		103,010		166,863
	Accrued compensation and benefits		30,844		59,023
	Income taxes payable		11,551		24,867
	Current maturities of long-term debt		5,760		-
	Other current liabilities		67,093		60,033
		Total current liabilities	218,432		311,125

Long-term debt, less current maturities			601,405		573,818
Deferred income taxes			117,227		99,634
Pension and postretirement benefit accruals			27,676		27,641
Other long-term liabilities			27,860		26,658

Shareholders' equity
	Capital stock		11,354		11,200
	Additional paid-in capital		(313,013	)	(324,898	)
	Accumulated other comprehensive (loss) income		(23,643	)	7,149
	Stock held in trust		(1,768	)	(2,081	)
	Deferred compensation liability		1,768		2,081
	Retained earnings		933,252		936,055
		Total shareholders' equity	607,950		629,506

Total liabilities and shareholders' equity			$ 1,600,550		$ 1,668,382

Actuant Corporation
Condensed Consolidated Statements of Operations
(Dollars in thousands except per share amounts)
(Unaudited)


	Three Months Ended			Nine Months Ended
	May 31,		May 31,	May 31,		May 31,
	2009		2008	2009		2008

Net sales	$ 290,401		$ 444,656	$ 970,055		$ 1,259,428
Cost of products sold	194,044		290,684	646,726		830,783
Gross profit	96,357		153,972	323,329		428,645

Selling, administrative and engineering expenses	65,175		88,421	215,389		252,396
Restructuring charges	11,923		-	15,799		10,473
Impairment charge	31,720		-	58,274		-
Amortization of intangible assets	5,358		4,023	15,024		10,741
Operating profit (loss)	(17,819	)	61,528	18,843		155,035

Financing costs, net	9,026		9,190	31,164		27,522
Other (income) expense, net	782		201	213		(1,579	)
Earnings (loss) from operations before income
tax expense and minority interest	(27,627	)	52,137	(12,534	)	129,092

Income tax expense (benefit)	(10,028	)	13,465	(9,763	)	40,767
Minority interest, net of income taxes	36		37	21		24

Net earnings (loss)	$ (17,635	)	$ 38,635	$ (2,792	)	$ 88,301


Earnings (loss) per share
Basic	$ (0.31	)	$ 0.69	$ (0.05	)	$ 1.58
Diluted	(0.31	)	0.60	(0.05	)	1.39

Weighted average common shares outstanding
Basic	56,252		55,874	56,148		55,766
Diluted	56,252		64,945	56,148		64,770

Actuant Corporation
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)


	Three Months Ended				Nine Months Ended
	May 31,		May 31,		May 31,		May 31,
	2009		2008		2009		2008

Operating Activities
Net (loss) earnings	$ (17,635	)	$ 38,635		(2,792	)	$ 88,301
Adjustments to reconcile net earnings
(loss) to net cash provided by operating
activities:
Depreciation and amortization	12,753		11,434		38,498		32,926
Stock-based compensation expense	2,953		1,750		6,401		4,890
(Benefit) provision for deferred income taxes	(9,756	)	311		(20,116	)	6,990
Impairment charge	31,720		-		58,274		-
Other	1,019		(326	)	2,070		(541	)
Changes in operating assets and
liabilities, excluding the effects of
the business acquisitions
Accounts receivable	23,021		(9,796	)	81,822		(34,851	)
Accounts receivable securitization program	(2,913	)	4,714		(13,482	)	5,045
Inventories	26,436		(1,886	)	36,732		(8,066	)
Prepaid expenses and other assets	(1,292	)	(231	)	823		1,744
Trade accounts payable	(11,438	)	9,951		(68,023	)	14,713
Income taxes payable	410		(2,934	)	(7,193	)	(1,278	)
Other accrued liabilities	8,784		12,726		(15,333	)	15,319
Net cash provided by operating activities	64,062		64,348		97,681		125,192

Investing Activities
Proceeds from sale of property, plant and equipment	317		2,097		607		13,676
Capital expenditures	(2,511	)	(13,268	)	(15,018	)	(32,502	)
Business acquisitions, net of cash acquired	(50	)	(59,043	)	(235,922	)	(110,109	)
Net cash used in investing activities	(2,244	)	(70,214	)	(250,333	)	(128,935	)

Financing Activities
Net (repayments) borrowings on revolving
credit facilities and other debt	(72,010	)	15		96,199		2,155
Proceeds from term loan	-		-		115,000		-
Principal repayments on term loans	(1,438	)	(7	)	(156,438	)	(1,008	)
Debt issuance and amendment costs	-		-		(5,333	)	-
Cash dividend	-		-		(2,251	)	(2,221	)
Stock option exercises, related tax benefits, and other	598		872		3,474		4,210
Net cash (used in) provided by financing activities	(72,850	)	880		50,651		3,136

Effect of exchange rate changes on cash	1,995		1,153		(7,256	)	5,006
Net increase (decrease) in cash and cash equivalents	(9,037	)	(3,833	)	(109,257	)	4,399
Cash and cash equivalents - beginning of period	22,329		94,912		122,549		86,680
Cash and cash equivalents - end of period	$ 13,292		$ 91,079		$ 13,292		$ 91,079

ACTUANT CORPORATION
SUPPLEMENTAL UNAUDITED DATA
	(Dollars in thousands)

			FISCAL 2008										FISCAL 2009
			Q1		Q2		Q3		Q4		TOTAL		Q1		Q2		Q3		Q4	TOTAL
SALES
	INDUSTRIAL SEGMENT		$ 87,412		$ 87,344		$ 101,593		$ 98,149		$ 374,498		$ 90,524		$ 71,682		$ 62,843			$ 225,049
	ENERGY SEGMENT		49,677		43,458		58,442		60,823		212,400		73,982		59,526		62,251			195,759
	ELECTRICAL SEGMENT		140,293		135,785		135,311		118,575		529,964		108,057		91,788		84,950			284,795
	ENGINEERED SOLUTIONS SEGMENT		137,761		133,042		149,310		126,968		547,081		107,417		76,678		80,357			264,452
		TOTAL	$ 415,143		$ 399,629		$ 444,656		$ 404,515		$ 1,663,943		$ 379,980		$ 299,674		$ 290,401			$ 970,055

% SALES GROWTH
	INDUSTRIAL SEGMENT		37	%	33	%	38	%	30	%	34	%	4	%	-18	%	-38	%		-19	%
	ENERGY SEGMENT		24	%	41	%	38	%	29	%	32	%	49	%	37	%	7	%		29	%
	ELECTRICAL SEGMENT		10	%	6	%	1	%	-14	%	0	%	-23	%	-32	%	-37	%		-31	%
	ENGINEERED SOLUTIONS SEGMENT		23	%	15	%	10	%	-1	%	11	%	-22	%	-42	%	-46	%		-37	%
		TOTAL	21	%	17	%	15	%	4	%	14	%	-8	%	-25	%	-35	%		-23	%

OPERATING PROFIT (LOSS)
	INDUSTRIAL SEGMENT		$ 25,662		$ 25,990		$ 31,054		$ 31,103		$ 113,809		$ 26,107		$ 15,972		$ 15,597			$ 57,676
	ENERGY SEGMENT		12,314		6,767		12,638		16,266		47,985		15,651		5,896		11,772			33,319
	ELECTRICAL SEGMENT		11,614		11,842		8,986		4,894		37,335		4,740		390		1,863			6,993
	ENGINEERED SOLUTIONS SEGMENT		13,106		10,844		17,053		12,600		53,603		8,648		(2,103	)	1,683			8,228
	CORPORATE / GENERAL		(6,415	)	(7,743	)	(8,203	)	(8,549	)	(30,910	)	(3,197	)	(5,013	)	(4,815	)		(13,025	)
		TOTAL - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES	$ 56,281		$ 47,700		$ 61,528		$ 56,314		$ 221,822		$ 51,949		$ 15,142		$ 26,100			$ 93,191
	IMPAIRMENT CHARGE		-		-		-		-		-		(26,553	)	-		(31,720	)		(58,274	)
	RESTRUCTURING CHARGE (1)		(5,521	)	(4,952	)	-		-		(10,473	)	(732	)	(3,144	)	(12,199	)		(16,075	)
		TOTAL	$ 50,760		$ 42,748		$ 61,528		$ 56,314		$ 211,349		$ 24,664		$ 11,998		$ (17,819	)		$ 18,843

OPERATING PROFIT %
	INDUSTRIAL SEGMENT		29.4	%	29.8	%	30.6	%	31.7	%	30.4	%	28.8	%	22.3	%	24.8	%		25.6	%
	ENERGY SEGMENT		24.8	%	15.6	%	21.6	%	26.7	%	22.6	%	21.2	%	9.9	%	18.9	%		17.0	%
	ELECTRICAL SEGMENT		8.3	%	8.7	%	6.6	%	4.1	%	7.0	%	4.4	%	0.4	%	2.2	%		2.5	%
	ENGINEERED SOLUTIONS SEGMENT		9.5	%	8.2	%	11.4	%	9.9	%	9.8	%	8.1	%	-2.7	%	2.1	%		3.1	%
		TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES	13.6	%	11.9	%	13.8	%	13.9	%	13.3	%	13.7	%	5.1	%	9.0	%		9.6	%

EBITDA
	INDUSTRIAL SEGMENT		$ 28,017		$ 27,840		$ 32,617		$ 32,599		$ 121,073		$ 27,139		$ 17,058		$ 18,208			$ 62,405
	ENERGY SEGMENT		14,553		9,546		15,771		20,399		60,269		21,675		11,493		15,080			48,248
	ELECTRICAL SEGMENT		14,495		14,340		11,553		7,186		47,573		6,195		1,666		4,300			12,161
	ENGINEERED SOLUTIONS SEGMENT		17,422		15,194		20,811		17,488		70,915		13,330		2,016		4,720			20,066
	CORPORATE / GENERAL		(6,632	)	(7,522	)	(7,991	)	(8,163	)	(30,308	)	(3,110	)	(4,058	)	(4,237	)		(11,405	)
		TOTAL - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES	$ 67,855		$ 59,398		$ 72,761		$ 69,509		$ 269,522		$ 65,229		$ 28,175		$ 38,071			$ 131,475
	IMPAIRMENT CHARGE		-		-		-		-		-		(26,553	)	-		(31,720	)		(58,274	)
	RESTRUCTURING CHARGES (1)		(5,521	)	(4,952	)	-		-		(10,473	)	(732	)	(3,144	)	(12,199	)		(16,075	)
		TOTAL	$ 62,334		$ 54,446		$ 72,761		$ 69,509		$ 259,049		$ 37,944		$ 25,031		$ (5,848	)		$ 57,127

EBITDA %
	INDUSTRIAL SEGMENT		32.1	%	31.9	%	32.1	%	33.2	%	32.3	%	30.0	%	23.8	%	29.0	%		27.7	%
	ENERGY SEGMENT		29.3	%	22.0	%	27.0	%	33.5	%	28.4	%	29.3	%	19.3	%	24.2	%		24.6	%
	ELECTRICAL SEGMENT		10.3	%	10.6	%	8.5	%	6.1	%	9.0	%	5.7	%	1.8	%	5.1	%		4.3	%
	ENGINEERED SOLUTIONS SEGMENT		12.6	%	11.4	%	13.9	%	13.8	%	13.0	%	12.4	%	2.6	%	5.9	%		7.6	%
		TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES	16.3	%	14.9	%	16.4	%	17.2	%	16.2	%	17.2	%	9.4	%	13.1	%		13.6	%

Note: The total of the individual quarters may not equal the annual total due to rounding.

(1) The restructuring charge for the third quarter of fiscal 2009 and year-to-date fiscal 2009 includes $276 of charges included in cost of products sold on the Condensed Consolidated Statement of Earnings.

ACTUANT CORPORATION
Reconciliation of GAAP measures to non-GAAP measures
	(Dollars in thousands, except for per share amounts)

			FISCAL 2008					FISCAL 2009
			Q1	Q2	Q3	Q4	TOTAL	Q1	Q2	Q3	Q4	TOTAL

NET EARNINGS (LOSS) EXCLUDING RESTRUCTURING CHARGE,
IMPAIRMENT CHARGE AND TAX ADJUSTMENTS / CREDITS (1)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 27,427	$ 22,239	$ 38,635	$ 34,243	$ 122,544	$ 11,598	$ 3,244	$ (17,635)		$ (2,792)
		RESTRUCTURING CHARGES, NET OF TAX BENEFIT	5,521	4,729	-	-	10,250	506	2,156	7,973		10,635
		IMPAIRMENT CHARGE, NET OF TAX BENEFIT	-	-	-	-	-	16,463	-	21,964		38,427
		TAX ADJUSTMENTS / CREDITS	-	-	(2,625)	-	(2,625)	-	-	-		-
	TOTAL (NON-GAAP MEASURE)		$ 32,948	$ 26,968	$ 36,010	$ 34,243	$ 130,169	$ 28,567	$ 5,400	$ 12,302		$ 46,269

DILUTED EARNINGS (LOSS) PER SHARE EXCLUDING RESTRUCTURING
CHARGE, IMPAIRMENT CHARGE AND TAX ADJUSTMENTS / CREDITS (1)(3)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 0.43	$ 0.35	$ 0.60	$ 0.54	$ 1.93	$ 0.19	$ 0.06	$ (0.31)		$ (0.05)
		RESTRUCTURING CHARGES, NET OF TAX BENEFIT	0.09	0.07	-	-	0.16	0.01	0.03	0.12		0.17
		IMPAIRMENT CHARGE, NET OF TAX BENEFIT	-	-	-	-	-	0.26	-	0.39		0.68
		TAX ADJUSTMENTS / CREDITS	-	-	(0.04)	-	(0.04)	-	-	-		-
	TOTAL (NON-GAAP MEASURE)		$ 0.52	$ 0.43	$ 0.56	$ 0.54	$ 2.05	$ 0.46	$ 0.09	$ 0.20		$ 0.75

EBITDA (2)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 27,427	$ 22,239	$ 38,635	$ 34,243	$ 122,544	$ 11,598	$ 3,244	$ (17,635)		$ (2,792)
		FINANCING COSTS, NET	9,300	9,032	9,190	8,887	36,409	12,235	9,904	9,026		31,164
		INCOME TAX EXPENSE	15,149	12,154	13,465	14,598	55,365	1,370	(1,105)	(10,028)		(9,763)
		DEPRECIATION & AMORTIZATION	10,464	11,028	11,434	11,783	44,709	12,746	12,998	12,753		38,498
		MINORITY INTEREST, NET OF INCOME TAX	(6)	(7)	37	(2)	22	(5)	(10)	36		21
		EBITDA (NON-GAAP MEASURE)	$ 62,334	$ 54,446	$ 72,761	$ 69,509	$ 259,049	$ 37,944	$ 25,031	$ (5,848)		$ 57,127
		IMPAIRMENT CHARGE	-	-	-	-	-	26,553	-	31,720		58,274
		RESTRUCTURING CHARGES	5,521	4,952	-	-	10,473	732	3,144	12,199		16,075
		EBITDA (NON-GAAP MEASURE) - EXCLUDING IMPAIRMENT AND	$ 67,855	$ 59,398	$ 72,761	$ 69,509	$ 269,522	$ 65,229	$ 28,175	$ 38,071		$ 131,475
		RESTRUCTURING CHARGES

(1)			Net earnings and diluted earnings per share excluding restructuring charges and income tax adjustments / credits represent net earnings and diluted earnings per share per the Consolidated Statement of Earnings net of charges or credits for items to be highlighted for comparability purposes. These measures should not be considered as an alternative to net earnings or diluted earnings per share as an indicator of the company's operating performance. However, this presentation is important to investors for understanding the operating results of the current portfolio of Actuant companies. The total of the individual components do not equal diluted earnings per share excluding restructuring charges and income tax adjustments / credits due to rounding.

(2)			EBITDA represents net earnings before financing costs, net, income tax expense, depreciation & amortization and minority interest. EBITDA is not a calculation based upon generally accepted accounting principles (GAAP). The amounts included in the EBITDA calculation, however, are derived from amounts included in the Consolidated Statements of Earnings data. EBITDA should not be considered as an alternative to net earnings or operating profit as an indicator of the company's operating performance, or as an alternative to operating cash flows as a measure of liquidity. Actuant has presented EBITDA because it regularly reviews this as a measure of the company's ability to incur and service debt. In addition, EBITDA is used by many of our investors and lenders, and is presented as a convenience to them. However, the EBITDA measure presented may not always be comparable to similarly titled measures reported by other companies due to differences in the components of the calculation. The total of the individual quarters may not equal the annual total due to rounding.

(3)			Due to the net loss for the third quarter of fiscal 2009 and year-to-date fiscal 2009, the basic weighted average common shares are used to calculate both basic and diluted loss per share as to avoid anti-dilution. Per share results for net earnings (loss) (GAAP measure) and the impairment charge were calculated using 56,252 and 56,148 shares outstanding, respectively. The basic weighted average shares outstanding exclude the effect of the 2% Convertible Notes and equity-based compensation plans. When excluding the impairment charges from net earnings (loss), the result is net earnings (and not a net loss) which requires a diluted basis for calculated EPS. For this reason, the per share results for restructuring charges and total diluted earnings (non-GAAP measure) were calculated using 64,051 and 64,234 shares outstanding for the third quarter of fiscal 2009 and year-to-date fiscal 2009, respectively, which gives effect to the 2% Convertible Notes and equity-based compensation plans. Because of the difference in shares outstanding being used, the per share results do not add for the third quarter of fiscal 2009 and year-to-date fiscal 2009.

CONTACT:
Actuant Corporation
Karen Bauer
Director, Investor Relations
262-373-7462

	Three Months Ended May 31,				Nine Months Ended May 31,
	2009		2008		2009		2008
Sales	$62.8		$101.6		$225.0		$276.3
Operating Profit (1)	$15.6		$31.1		$57.7		$82.7
Operating Profit % (1)	24.8	%	30.6	%	25.6	%	29.9	%

	Three Months Ended May 31,				Nine Months Ended May 31,
	2009		2008		2009		2008
Sales	$62.3		$58.4		$195.8		$151.6
Operating Profit (2)	$11.8		$12.6		$33.3		$31.7
Operating Profit % (2)	18.9	%	21.6	%	17.0	%	20.9	%

	Three Months Ended May 31,				Nine Months Ended May 31,
	2009		2008		2009		2008
Sales	$85.0		$135.3		$284.8		$411.4
Operating Profit (3)	$1.9		$9.0		$7.0		$32.4
Operating Profit % (3)	2.2	%	6.6	%	2.5	%	7.9	%

	Three Months Ended May 31,				Nine Months Ended May 31,
	2009		2008		2009		2008
Sales	$80.4		$149.3		$264.5		$420.1
Operating Profit (4)	$1.7		$17.1		$8.2		$41.0
Operating Profit % (4)	2.1	%	11.4	%	3.1	%	9.8	%