MILWAUKEE--(BUSINESS WIRE)--September 30, 2009--Actuant Corporation (NYSE: ATU) today announced sales and earnings for its fourth quarter and fiscal year ended August 31, 2009.

Robert C. Arzbaecher, Chairman and CEO of Actuant commented, “We are pleased to have finished out this challenging fiscal year with strong cash flow, stabilization in the majority of our businesses and continued solid execution on our restructuring actions. Our sales, earnings and earnings per share, adjusted for special items and the equity offering, were in line with our expectations as benefits from cost reduction and restructuring activities were realized.

In addition to cost structure improvements, I am encouraged by Actuant’s continued strong working capital management and cash flow generation. Despite terrible economic conditions over the past year, Actuant generated $147 million in operating cash flow in fiscal 2009. We have used this economic crisis as a catalyst for driving our operations to new performance levels which resulted in significant operating and working capital improvements across our businesses globally. I want to thank our leadership team and all employees for capturing and institutionalizing these improvements.”

During the fourth quarter, the Company divested Acme Aerospace and BH Electronics. The results of operations for these two businesses, as well as the aggregate net gain on disposition are reported in discontinued operations in the accompanying Condensed Consolidated Statement of Operations. Operating results for all prior periods have been reclassified for comparability.

Consolidated sales for the fourth quarter declined 26% to $290 million compared to $393 million in the fourth quarter of fiscal 2008. Excluding the impact of foreign currency rate changes (-4%) and acquisitions (+5%), core sales (sales excluding the impact of acquisitions, divestitures and currency rate changes) declined 27%. Net earnings and diluted earnings per share (“EPS”) in the fiscal 2009 fourth quarter were $16.5 million and $0.24, respectively, compared to net earnings of $34.2 million and EPS of $0.54 in the comparable prior year quarter. Earnings and EPS from continuing operations were $4.5 million and $0.07, respectively, compared to $33.6 million and $0.53 for the comparable prior year period. Results from continuing operations for the fourth quarter of 2009 included a $2.1 million ($0.02 per diluted share) pre-tax non-cash debt extinguishment charge following the equity offering as well as pre-tax restructuring charges of $9.3 million, or $0.09 per diluted share. Excluding these items, EPS from continuing operations was $0.18 in the fourth quarter of fiscal 2009 compared to $0.53 in the prior year’s quarter. (See attached reconciliation of earnings).

Sales for the year ended August 31, 2009 were $1,240 million, 23% lower than the $1,613 million in the prior year. Excluding the impact of the stronger US dollar (-4%) and sales from acquired businesses (+4%), year-to-date core sales decreased 23%. Net earnings for the year ended August 31, 2009 were $13.7 million, or $0.24 per diluted share, compared to fiscal 2008 net earnings of $122.5 million, or $1.93 per diluted share. Earnings and EPS from continuing operations were $23.9 million and $0.40, respectively compared to $119.2 million and $1.88 for the prior year. Fiscal 2009 results from continuing operations included $31.3 million ($0.29 per diluted share) of pre-tax non-cash asset impairment charges, $23.7 million ($0.24 per diluted share) of pre-tax restructuring charges and $1.7 million ($0.02 per diluted share) of pre-tax non-cash debt extinguishment charges. Results for the year ended August 31, 2008 included $10.5 million ($0.16 per diluted share) of pre-tax restructuring charges and a tax benefit of $2.6 million ($0.04 per diluted share). Excluding these items, fiscal 2009 EPS from continuing operations was $0.95, compared to $2.00 for the prior year. (See attached reconciliation of earnings).

(1) Results for the three and twelve months ended August 31, 2009 exclude restructuring charges of $2.4 million and $3.9 million, respectively.

Fourth quarter fiscal 2009 Industrial segment sales decreased 37% to $62 million. Excluding foreign currency rate changes (-2%), Industrial segment core sales were 35% lower than the comparable prior year period; however, they were approximately level with the third fiscal quarter. The year-over-year sales decline was broad based across the diverse end markets and geographic regions served by this segment. The segment’s core sales rate of change stabilized since May 2009. Fourth quarter operating profit margin (excluding restructuring costs) was 22.2%, below the comparable prior year quarter due to lower sales and production as well as unfavorable sales mix.

(2) Results for the three and twelve months ended August 31, 2009 exclude restructuring charges of $0.7 million and $1.0 million, respectively.

Fiscal 2009 fourth quarter Energy segment sales grew 5% to $64 million. Acquisitions contributed 25% to sales while the stronger US dollar reduced sales by 9%. Core sales declined 11% due to lower capital project based revenue. While the Company saw certain of its customers defer or reduce maintenance at some oil & gas installations, this important source of Energy segment revenue held up better than exploration or new commissioning related business. Operating profit margin (excluding restructuring costs) declined year-over-year reflecting unfavorable acquisition mix and the lower volumes.

(3) Results for the three months ended August 31, 2009 exclude restructuring charges of $3.0 million. Results for the twelve months ended August 31, 2009 exclude a $4.8 million pre-tax non-cash asset impairment charge and $9.8 million of restructuring charges. Results for the twelve months ended August 31, 2008 exclude restructuring charges of $10.5 million.

Electrical segment fiscal 2009 fourth quarter sales declined 22% to $88 million. The stronger US dollar contributed 3% to the sales decline. Core sales decreased 19% from the prior year reflecting continued weak demand. However, the core revenue year-over-year rate of change improved sequentially from -30% in the third quarter of fiscal 2009 to -19% in the fourth quarter. Sales trends to both the marine aftermarket and DIY channel improved sequentially during the fourth quarter. Fourth quarter operating profit margin (excluding restructuring costs) increased to 4.8%, a 30 basis point improvement from the prior year and 110 basis points sequentially. The increase primarily reflects cost reduction benefits and improved product sales mix.

(4) Results for the three months ended August 31, 2009 exclude restructuring charges of $3.0 million. Results for the twelve months ended August 31, 2009 exclude a $26.6 million pre-tax non-cash RV asset impairment charge and $8.3 million of restructuring charges.

Fourth quarter fiscal 2009 Engineered Solutions segment sales declined 37% (-37% core, -3% currency translation and +3% acquisitions) reflecting significantly reduced demand from truck and specialty vehicle end markets. While automotive revenues increased sequentially due to new program launches, major global truck OEM’s continued to reduce their inventory levels by producing fewer trucks than they sold. Fourth quarter operating margins (excluding restructuring) continue to be negatively impacted by the significant reduction in sales, unfavorable product line sales mix and lower manufacturing overhead absorption.

Corporate expenses for the fourth quarter of fiscal 2009, excluding restructuring charges of approximately $0.2 million, were $5.0 million compared to $8.5 million in the comparable prior year quarter primarily due to lower incentive compensation expense, salary and headcount reductions and reduced discretionary spending.

Net debt at August 31, 2009 was $394 million (total debt of $405 million less $11 million of cash). The Company completed a follow-on equity offering during the quarter, issuing 10.925 million shares for net proceeds of approximately $125 million which were used to reduce indebtedness. In addition, the aforementioned business divestitures generated net proceeds of $38 million, also used to reduce outstanding borrowings. The combination of these items, as well as robust fourth quarter operating cash flow, had a significant impact on the Company’s capitalization with $200 million of net debt reduction since May 31, 2009. As of August 31, 2009, the Company had over $350 million of unused revolver capacity.

Arzbaecher continued, “We begin the new fiscal year with both opportunities and challenges facing Actuant. While the rate of change in sales has stabilized in most of our end markets, we still have difficult year-over-year comparisons ahead of us, most pronounced in the first two fiscal quarters of 2010. Visibility in our later cycle Energy segment remains challenging as the number of capital projects industry-wide has declined steadily over the past six months. However, with customer inventory destocking moderating and the global economic slowdown approaching its anniversary, our sequential and year-over-year revenues are expected to improve in the second half of fiscal 2010. We also will be realizing additional benefits of restructuring activities in the second half of the fiscal year as most current projects reach completion by mid-year. As we experienced this past year, the biggest variable in our fiscal 2010 results will be the general economy and its impact on revenue. We have assumed an overall fiscal 2010 core sales decline of 3%-8%, driven by continued difficult comparisons in the first half of the fiscal year partially offset by improvements in the second half. Our revenue guidance for fiscal 2010 is $1.15-$1.25 billion. We anticipate diluted EPS for the full year, excluding restructuring costs, to be in the $0.70-$0.95 range. Full year free cash flow is expected to be in the $90-$100 million range, which would result in free cash flow conversion well in excess of 100%. We continue to pursue accretive acquisition opportunities which, when executed, will be incremental to this guidance. Our first quarter fiscal 2010 guidance reflects expected sequential stability with sales in the $280-$300 million range and EPS in the range of $0.12-$0.17 (excluding restructuring charges).”

Concluded Arzbaecher, “We are optimistic that over the next twelve months we will begin to see improved business and consumer confidence levels which will benefit Actuant and the broader economy. I continue to be very confident in Actuant’s long-term organic and acquisition driven growth prospects. With our strong cash flow and borrowing capacity, we are well positioned to finance these growth opportunities. The fundamentals for our growth strategies are in place, and our people, at all levels, are dedicated and driven to realizing those opportunities.”

An investor conference call is scheduled for 10am CT today, September 30, 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. The Company employs a workforce of approximately 5,900 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)

			August 31,		August 31,
			2009		2008

ASSETS
Current assets
	Cash and cash equivalents		$ 11,385		$ 122,549
	Accounts receivable, net		155,520		226,564
	Inventories, net		160,656		215,391
	Deferred income taxes		20,855		11,870
	Other current assets		15,246		16,092
		Total current assets	363,662		592,466

Property, plant and equipment, net			129,118		134,550
Goodwill			711,522		639,862
Other intangible assets, net			350,249		292,359
Other long-term assets			13,880		9,145

		Total assets	$ 1,568,431		$ 1,668,382


LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
	Short-term borrowings		$ 4,964		$ 339
	Trade accounts payable		108,333		166,863
	Accrued compensation and benefits		30,079		59,023
	Income taxes payable		20,578		24,867
	Other current liabilities		71,140		60,033
		Total current liabilities	235,094		311,125

Long-term debt, less current maturities			400,135		573,818
Deferred income taxes			117,335		99,634
Pension and postretirement benefit accruals			37,662		27,641
Other long-term liabilities			30,835		26,658

Shareholders' equity
	Capital stock		13,543		11,200
	Additional paid-in capital		(188,644	)	(324,898	)
	Accumulated other comprehensive (loss) income		(24,599	)	7,149
	Stock held in trust		(1,766	)	(2,081	)
	Deferred compensation liability		1,766		2,081
	Retained earnings		947,070		936,055
		Total shareholders' equity	747,370		629,506

Total liabilities and shareholders' equity			$ 1,568,431		$ 1,668,382


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


		Three Months Ended				Twelve Months Ended
		August 31,		August 31,		August 31,		August 31,
		2009		2008		2009		2008

Net sales		$ 290,056		$ 393,470		$ 1,239,798		$ 1,613,190
Cost of products sold		195,476		251,219		825,124		1,052,141
	Gross profit	94,580		142,251		414,674		561,049

Selling, administrative and engineering expenses		65,233		83,144		275,751		330,609
Restructuring charges		8,240		-		22,426		10,473
Impairment charges		-		-		31,321		-
Amortization of intangible assets		5,378		3,870		19,724		13,933
	Operating profit	15,729		55,237		65,452		206,034

Financing costs, net		10,685		8,887		41,849		36,409
Other (income) expense, net		(4	)	(1,412	)	209		(2,991	)
	Earnings from continuing operations before income
	tax expense and minority interest	5,048		47,762		23,394		172,616

Income tax expense (benefit)		540		14,182		(474	)	53,416
Minority interest, net of income taxes		(4	)	(2	)	17		22

Earnings from continuing operations		4,512		33,582		23,851		119,178

Earnings (loss) from discontinued operations,
net of income taxes		12,003		661		(10,128	)	3,366

Net earnings		$ 16,515		$ 34,243		$ 13,723		$ 122,544

Earnings from continuing operations per share
	Basic	$ 0.07		$ 0.60		$ 0.41		$ 2.14
	Diluted	0.07		0.53		0.40		1.88

Earnings per share
	Basic	$ 0.26		$ 0.61		$ 0.24		$ 2.20
	Diluted	0.24		0.54		0.24		1.93

Weighted average common shares outstanding
	Basic	63,742		55,953		58,047		55,813
	Diluted	71,554		65,011		66,064		64,833


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


	Three Months Ended				Twelve Months Ended
	August 31,		August 31,		August 31,		August 31,
	2009		2008		2009		2008

Operating Activities
Net earnings	$ 16,515		$ 34,243		13,723		$ 122,544
Adjustments to reconcile net earnings to net cash provided by
operating activities:
Depreciation and amortization	13,480		11,783		51,978		44,709
Stock-based compensation expense	2,208		1,957		8,609		6,847
Provision (benefit) for deferred income taxes	2,269		(1,078	)	(17,847	)	5,912
Impairment charges	-		-		58,274		-
Net gain on disposal of businesses	(15,831	)	-		(15,831	)	-
Amortization of debt discount and debt issuance costs	2,870		367		4,531		1,372
(Gain)/Loss on disposal of assets	1,176		(30	)	1,585		(1,576	)
Changes in operating assets and liabilities, excluding the effects of the business acquisitions
Accounts receivable	5,230		20,922		87,052		(13,929	)
Accounts receivable securitization program	(2,355	)	(8,621	)	(15,837	)	(3,576	)
Inventories	21,231		2,369		57,963		(5,697	)
Prepaid expenses and other assets	252		(1,315	)	1,075		429
Trade accounts payable	6,091		(7,127	)	(61,932	)	7,586
Income taxes payable	(1,987	)	702		(9,180	)	(576	)
Other accrued liabilities	(2,115	)	(9,267	)	(17,448	)	6,052
Net cash provided by operating activities	49,034		44,905		146,715		170,097

Investing Activities
Proceeds from sale of property, plant and equipment	1,255		389		1,862		14,065
Capital expenditures	(6,436	)	(11,905	)	(21,454	)	(44,407	)
Proceeds from sale of businesses, net of transaction costs	38,455		-		38,455		-
Business acquisitions, net of cash acquired	(3,500	)	-		(239,422	)	(110,109	)
Net cash provided by (used in) investing activities	29,774		(11,516	)	(220,559	)	(140,451	)

Financing Activities
Net (repayments) borrowings on revolving credit facilities and other debt	(88,642	)	(1,909	)	7,557		246
Proceeds from term loan	-		-		115,000		-
Principal repayments on term loans	(113,562	)	(7	)	(270,000	)	(1,015	)
Debt issuance and amendment costs	(3,825	)	-		(9,158	)	(265	)
Proceeds from equity offering, net of transaction costs	124,781		-		124,781		-
Cash dividend	-		-		(2,251	)	(2,221	)
Stock option exercises, related tax benefits, and other	550		3,819		4,024		8,294
Net cash (used in) provided by financing activities	(80,698	)	1,903		(30,047	)	5,039

Effect of exchange rate changes on cash	(17	)	(3,822	)	(7,273	)	1,184
Net increase (decrease) in cash and cash equivalents	(1,907	)	31,470		(111,164	)	35,869
Cash and cash equivalents - beginning of period	13,292		91,079		122,549		86,680
Cash and cash equivalents - end of period	$ 11,385		$ 122,549		$ 11,385		$ 122,549


ACTUANT CORPORATION
SUPPLEMENTAL UNAUDITED DATA FROM CONTINUING OPERATIONS
(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		$ 61,802		$ 286,851
	ENERGY SEGMENT		49,677		43,458		58,442		60,823		212,400		73,982		59,526		62,251		63,731		259,490
	ELECTRICAL SEGMENT		130,130		126,705		126,865		112,745		496,445		102,898		89,719		83,752		87,792		364,161
	ENGINEERED SOLUTIONS SEGMENT		133,780		129,403		144,911		121,753		529,847		103,385		72,872		76,308		76,731		329,296
		TOTAL	$ 400,999		$ 386,910		$ 431,811		$ 393,470		$ 1,613,190		$ 370,789		$ 293,799		$ 285,154		$ 290,056		$ 1,239,798

% SALES GROWTH
	INDUSTRIAL SEGMENT		37	%	33	%	38	%	30	%	34	%	4	%	-18	%	-38	%	-37	%	-23	%
	ENERGY SEGMENT		24	%	41	%	38	%	29	%	32	%	49	%	37	%	7	%	5	%	22	%
	ELECTRICAL SEGMENT		2	%	-1	%	-5	%	-15	%	-5	%	-21	%	-29	%	-34	%	-22	%	-27	%
	ENGINEERED SOLUTIONS SEGMENT		23	%	16	%	10	%	-1	%	11	%	-23	%	-44	%	-47	%	-37	%	-38	%
		TOTAL	18	%	15	%	13	%	4	%	12	%	-8	%	-24	%	-34	%	-26	%	-23	%

OPERATING PROFIT (LOSS)
	INDUSTRIAL SEGMENT		$ 25,662		$ 25,990		$ 31,054		$ 31,103		$ 113,809		$ 26,107		$ 15,972		$ 15,597		$ 13,692		$ 71,368
	ENERGY SEGMENT		12,314		6,767		12,638		16,266		47,985		15,647		5,895		11,772		11,801		45,115
	ELECTRICAL SEGMENT		10,299		11,044		8,546		5,121		35,010		5,896		2,404		3,119		4,213		15,632
	ENGINEERED SOLUTIONS SEGMENT		12,707		10,485		16,125		11,296		50,613		7,865		(2,735	)	991		342		6,463
	CORPORATE / GENERAL		(6,415	)	(7,743	)	(8,203	)	(8,549	)	(30,910	)	(3,197	)	(5,013	)	(4,815	)	(5,042	)	(18,066	)
		TOTAL - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES	$ 54,567		$ 46,543		$ 60,160		$ 55,237		$ 216,507		$ 52,318		$ 16,523		$ 26,664		$ 25,006		$ 120,512
	IMPAIRMENT CHARGES		-		-		-		-		-		(26,553	)	-		(4,768	)	-		(31,321	)
	RESTRUCTURING CHARGES (1)		(5,521	)	(4,952	)	-		-		(10,473	)	(674	)	(3,039	)	(10,749	)	(9,277	)	(23,739	)
		TOTAL	$ 49,046		$ 41,591		$ 60,160		$ 55,237		$ 206,034		$ 25,091		$ 13,484		$ 11,147		$ 15,729		$ 65,452

OPERATING PROFIT %
	INDUSTRIAL SEGMENT		29.4	%	29.8	%	30.6	%	31.7	%	30.4	%	28.8	%	22.3	%	24.8	%	22.2	%	24.9	%
	ENERGY SEGMENT		24.8	%	15.6	%	21.6	%	26.7	%	22.6	%	21.1	%	9.9	%	18.9	%	18.5	%	17.4	%
	ELECTRICAL SEGMENT		7.9	%	8.7	%	6.7	%	4.5	%	7.1	%	5.7	%	2.7	%	3.7	%	4.8	%	4.3	%
	ENGINEERED SOLUTIONS SEGMENT		9.5	%	8.1	%	11.1	%	9.3	%	9.6	%	7.6	%	-3.8	%	1.3	%	0.4	%	2.0	%
		TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES	13.6	%	12.0	%	13.9	%	14.0	%	13.4	%	14.1	%	5.6	%	9.4	%	8.6	%	9.7	%

EBITDA
	INDUSTRIAL SEGMENT		$ 28,017		$ 27,840		$ 32,617		$ 32,599		$ 121,073		$ 27,139		$ 17,058		$ 18,208		$ 15,322		$ 77,727
	ENERGY SEGMENT		14,553		9,546		15,771		20,399		60,269		21,671		11,492		15,080		16,235		64,478
	ELECTRICAL SEGMENT		12,929		13,293		10,863		7,163		44,248		7,103		3,440		5,307		6,388		22,238
	ENGINEERED SOLUTIONS SEGMENT		16,894		14,707		19,756		16,051		67,408		12,412		1,264		3,915		4,949		22,541
	CORPORATE / GENERAL		(6,632	)	(7,522	)	(7,991	)	(8,163	)	(30,308	)	(3,110	)	(4,058	)	(4,237	)	(4,196	)	(15,601	)
		TOTAL - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES	$ 65,761		$ 57,864		$ 71,016		$ 68,049		$ 262,690		$ 65,215		$ 29,196		$ 38,273		$ 38,698		$ 171,383
	IMPAIRMENT CHARGES		-		-		-		-		-		(26,553	)	-		(4,768	)	-		(31,321	)
	RESTRUCTURING CHARGES (1)		(5,521	)	(4,952	)	-		-		(10,473	)	(674	)	(3,039	)	(10,749	)	(9,277	)	(23,739	)
		TOTAL	$ 60,240		$ 52,912		$ 71,016		$ 68,049		$ 252,217		$ 37,988		$ 26,157		$ 22,756		$ 29,421		$ 116,323

EBITDA %
	INDUSTRIAL SEGMENT		32.1	%	31.9	%	32.1	%	33.2	%	32.3	%	30.0	%	23.8	%	29.0	%	24.8	%	27.1	%
	ENERGY SEGMENT		29.3	%	22.0	%	27.0	%	33.5	%	28.4	%	29.3	%	19.3	%	24.2	%	25.5	%	24.8	%
	ELECTRICAL SEGMENT		9.9	%	10.5	%	8.6	%	6.4	%	8.9	%	6.9	%	3.8	%	6.3	%	7.3	%	6.1	%
	ENGINEERED SOLUTIONS SEGMENT		12.6	%	11.4	%	13.6	%	13.2	%	12.7	%	12.0	%	1.7	%	5.1	%	6.4	%	6.8	%
		TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES	16.4	%	15.0	%	16.4	%	17.3	%	16.3	%	17.6	%	9.9	%	13.4	%	13.3	%	13.8	%

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

		(1) The restructuring charges for the third and fourth quarters of fiscal 2009 and total fiscal 2009 includes $276, $1,037 and $1,313 of charges included in cost of products sold on the Condensed Consolidated Statements of Operations.


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 CHARGES,
IMPAIRMENT CHARGES, INCOME TAX ADJUSTMENTS / CREDITS,
DEBT EXTINGUISHMENT CHARGES, AND DISCONTINUED OPERATIONS (1)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 27,427		$ 22,239		$ 38,635		$ 34,243		$ 122,544		$ 11,598		$ 3,244		$ (17,635	)	$ 16,515		$ 13,723
		RESTRUCTURING CHARGES, NET OF TAX BENEFIT	5,521		4,729		-		-		10,250		481		2,028		7,173		6,223		15,905
		IMPAIRMENT CHARGES, NET OF TAX BENEFIT	-		-		-		-		-		16,463		-		2,981		-		19,444
		TAX ADJUSTMENTS / CREDITS	-		-		(2,625	)	-		(2,625	)	-		-		-		-		-
		DEBT EXTINGUISHMENT CHARGES, NET OF TAX BENEFIT	-		-		-		-		-		(236	)	-		-		1,303		1,067
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT	(1,102	)	(741	)	(862	)	(661	)	(3,366	)	300		985		20,846		(12,003	)	10,128
	TOTAL (NON-GAAP MEASURE)		$ 31,846		$ 26,227		$ 35,148		$ 33,582		$ 126,803		$ 28,606		$ 6,257		$ 13,365		$ 12,038		$ 60,267


DILUTED EARNINGS (LOSS) PER SHARE, EXCLUDING RESTRUCTURING CHARGES,
IMPAIRMENT CHARGES, INCOME TAX ADJUSTMENTS / CREDITS,
DEBT EXTINGUISHMENT CHARGES, AND DISCONTINUED OPERATIONS (1)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 0.43		$ 0.35		$ 0.60		$ 0.54		$ 1.93		$ 0.19		$ 0.06		$ (0.27	)	$ 0.24		$ 0.24
		RESTRUCTURING CHARGES, NET OF TAX BENEFIT	0.09		0.07		-		-		0.16		0.01		0.03		0.11		0.09		0.24
		IMPAIRMENT CHARGES, NET OF TAX BENEFIT	-		-		-		-		-		0.26		-		0.05		-		0.29
		TAX ADJUSTMENTS / CREDITS	-		-		(0.04	)	-		(0.04	)	-		-		-		-		-
		DEBT EXTINGUISHMENT CHARGES, NET OF TAX BENEFIT	-		-		-		-		-		(0.00	)	-		-		0.02		0.02
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT	(0.01	)	(0.01	)	(0.01	)	(0.01	)	(0.04	)	-		0.02		0.33		(0.17	)	0.15
	TOTAL (NON-GAAP MEASURE)		$ 0.51		$ 0.41		$ 0.55		$ 0.53		$ 2.00		$ 0.45		$ 0.11		$ 0.22		$ 0.18		$ 0.95

EBITDA (2)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 27,427		$ 22,239		$ 38,635		$ 34,243		$ 122,544		$ 11,598		$ 3,244		$ (17,635	)	$ 16,515		$ 13,723
		FINANCING COSTS, NET	9,300		9,032		9,190		8,887		36,409		12,235		9,904		9,025		10,685		41,849
		INCOME TAX EXPENSE	14,537		11,738		12,959		14,182		53,416		1,497		(604	)	(1,907	)	540		(474	)
		DEPRECIATION & AMORTIZATION	10,084		10,651		11,057		11,400		43,192		12,363		12,638		12,391		13,688		51,080
		MINORITY INTEREST, NET OF INCOME TAX	(6	)	(7	)	37		(2	)	22		(5	)	(10	)	36		(4	)	17
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT	(1,102	)	(741	)	(862	)	(661	)	(3,366	)	300		985		20,846		(12,003	)	10,128
		EBITDA (NON-GAAP MEASURE)	$ 60,240		$ 52,912		$ 71,016		$ 68,049		$ 252,217		$ 37,988		$ 26,157		$ 22,756		$ 29,421		$ 116,323
		IMPAIRMENT CHARGES	-		-		-		-		-		26,553		-		4,768		-		31,321
		RESTRUCTURING CHARGES	5,521		4,952		-		-		10,473		674		3,039		10,749		9,277		23,739
		EBITDA (NON-GAAP MEASURE) - EXCLUDING DISCONTINUED OPERATIONS,
		IMPAIRMENT, AND RESTRUCTURING CHARGES	$ 65,761		$ 57,864		$ 71,016		$ 68,049		$ 262,690		$ 65,215		$ 29,196		$ 38,273		$ 38,698		$ 171,383

(1)		Net earnings and diluted earnings per share excluding restructuring charges, impairment charges, income tax adjustments / credits, debt extinguishment charges and discontinued operations represent net earnings and diluted earnings per share per the Condensed Consolidated Statements of Operations 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 may not equal due to rounding.

(2)		EBITDA represents net earnings before financing costs, net, income tax expense, depreciation & amortization, minority interest and discontinued operations. 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 Condensed Consolidated Statements of Operations 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.

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

	Three Months Ended		Twelve Months Ended
	August 31,		August 31,
	2009	2008	2009	2008
Sales	$61.8	$98.1	$286.9	$374.5
Operating Profit (1)	$13.7	$31.1	$71.4	$113.8
Operating Profit % (1)	22.2%	31.7%	24.9%	30.4%

	Three Months Ended		Twelve Months Ended
	August 31,		August 31,
	2009	2008	2009	2008
Sales	$63.7	$60.8	$259.5	$212.4
Operating Profit (2)	$11.8	$16.3	$45.1	$48.0
Operating Profit % (2)	18.5%	26.7%	17.4%	22.6%

	Three Months Ended		Twelve Months Ended
	August 31,		August 31,
	2009	2008	2009	2008
Sales	$87.8	$112.7	$364.2	$496.4
Operating Profit (3)	$4.2	$5.1	$15.6	$35.0
Operating Profit % (3)	4.8%	4.5%	4.3%	7.1%

	Three Months Ended		Twelve Months Ended
	August 31,		August 31,
	2009	2008	2009	2008
Sales	$76.7	$121.8	$329.3	$529.8
Operating Profit (4)	$0.3	$11.3	$6.5	$50.6
Operating Profit % (4)	0.4%	9.3%	2.0%	9.6%