MILWAUKEE--(BUSINESS WIRE)--September 29, 2010--Actuant Corporation (NYSE: ATU) today announced results for its fourth quarter ended August 31, 2010.

Robert C. Arzbaecher, Chairman and CEO of Actuant commented, “Actuant had a strong fourth quarter and finished the year on a positive note. In particular, we were pleased to see double-digit core sales growth for the second straight quarter and excellent cash flow. Our fourth quarter core revenue growth of 18% exceeded the high-end of our expectations with strong growth in both Industrial and Engineered Solutions. The increased volumes, along with continued margin improvement, drove the robust EPS growth. Free cash flow also exceeded our forecast due to higher earnings and strong working capital management. I am tremendously proud of what the Actuant team has achieved this year, especially our second half results, and am equally enthusiastic about our prospects for 2011.”

In September, the Company announced its intention to divest its European Electrical business. The results of operations for this business, as well as the previously announced non-cash asset impairment charge, are reported in discontinued operations in the accompanying Condensed Consolidated Statement of Operations. Operating results for the fourth quarter and all prior periods have been reclassified for comparability.

Consolidated sales for the fourth quarter were $310 million, 19% higher than the comparable prior year quarter. Core sales increased 18% with acquisitions contributing an additional 4%, offset by the stronger U.S. dollar (-3%). The fiscal 2010 fourth quarter net loss was $16.8 million, or ($0.22) per share compared to net earnings and EPS of $16.5 million and $0.24, respectively, in the comparable prior year quarter. The current year quarter included a $37.7 million ($0.51 per diluted share) loss from discontinued operations, primarily the result of the $36.1 million non-cash asset impairment charge related to the planned divestiture of the European Electrical business. Prior year fourth quarter net earnings included a $12.6 million ($0.18 per diluted share) net gain from discontinued operations, primarily reflecting the divestiture of Acme Aerospace. Earnings and EPS from continuing operations in the fiscal 2010 fourth quarter were $20.9 million and $0.29, respectively, compared to $3.9 million and $0.06 in the comparable prior year quarter. Results for the fourth quarter of fiscal 2010 included pre-tax restructuring costs (including those reported in cost of products sold) of $2.4 million, or $0.02 per diluted share. Fiscal 2009 fourth quarter continuing operations results included pre-tax restructuring costs of $9.1 million, ($0.09 per diluted share) as well as a $2.1 million ($0.02 per diluted share) pre-tax debt extinguishment charge. Excluding these items, EPS from continuing operations was $0.31 in the fourth quarter of fiscal 2010, 82% higher than the $0.17 in the prior year. (See attached reconciliation of earnings.)

Sales for the year ended August 31, 2010 were $1,161 million, 4% higher than the $1,118 million in the comparable prior year period. Excluding the impact of acquisitions (+1%) and the weaker US dollar (+1%), full year core sales increased 2%. Net earnings for the year ended August 31, 2010 were $24.0 million or $0.35 per diluted share, compared to $13.7 million, or $0.24 per diluted share in the comparable prior year period. Earnings and EPS from continuing operations for the year ended August 31, 2010 were $70.4 million, or $0.97 per diluted share, compared to $26.0 million, or $0.43 per diluted share for the comparable prior year period. Full year fiscal 2010 results include pre-tax restructuring costs of $16.7 million, or $0.16 per diluted share, as well as income tax adjustments of $0.6 million or $0.01 per diluted share. Results from continuing operations for the year ended August 31, 2009 included $31.3 million ($0.29 per diluted share) of pre-tax asset impairment charges, $20.8 million ($0.20 per diluted share) of pre-tax restructuring costs and a $1.7 million ($0.02 per diluted share) pre-tax debt extinguishment charge. Excluding these items, current year diluted EPS from continuing operations was $1.08, a 15% improvement from $0.94 in the comparable prior year period. (See attached reconciliation of earnings.)

(1) Excludes restructuring costs of $0.4 million and $5.8 million for the three and twelve months ended August 31, 2010 and $2.4 million and $3.9 million for the three and twelve months ended August 31, 2009, respectively.

Fourth quarter fiscal 2010 Industrial segment sales were $86 million, 39% higher than the prior year. Excluding foreign currency rate changes (-3%), and the benefit of the Integrated Solutions (IS) acquisitions (+9%), Industrial segment core sales increased 33% due to robust demand across most markets. This 33% year-over-year core sales growth represents sequential improvement from the 20% increase in the third quarter of fiscal 2010. Operating profit margins (excluding restructuring costs) improved 320 basis points from the prior year despite unfavorable mix related to the recent IS acquisitions, due to the higher volumes as well as the benefit of restructuring actions.

(2) Excludes restructuring costs of $0.1 million and $2.0 million for the three and twelve months ended August 31, 2010 and $0.7 million and $1.0 million for the three and twelve months ended August 31, 2009, respectively.

Fiscal 2010 fourth quarter year-over-year Energy segment sales decreased 4% to $61 million. Excluding the 4% unfavorable FX impact and 7% contribution from acquisitions, core sales declined 7% due primarily to continued weakness in mature market refinery maintenance activity, seismic exploration and large capital project based revenue. However, the core sales rate of change improved from -11% in the third quarter, and increased 8% sequentially, as emerging markets, alternative energy and adjacent markets generated increased activity. Fourth quarter operating profit margin (excluding restructuring costs) was 13.5%, a 60 basis point sequential improvement; however, it was below the prior year due to the unfavorable mix of lower product sales in relation to service and rental revenue.

(3) Excludes restructuring costs of $0.9 million and $4.5 million for the three and twelve months ended August 31, 2010, respectively. Excludes restructuring costs of $2.8 million and $6.9 million for the three and twelve months ended August 31, 2009, respectively. The twelve months ended August 31, 2009 also excludes $4.8 million of impairment charges.

Electrical segment fiscal 2010 fourth quarter sales were $63 million, 7% higher than the comparable prior year quarter due to continued improvement in the North American marine and industrial markets. Electric utility and commercial construction market activity appears to have stabilized, albeit at low levels. Fourth quarter operating profit margin (excluding restructuring costs) increased 580 basis points from the prior year reflecting higher volumes and restructuring driven cost savings.

(4) Excludes restructuring costs of $0.8 million and $3.6 million for the three and twelve months ended August 31, 2010 and $3.0 million and $8.3 million for the three and twelve months ended August 31, 2009. The twelve months ended August 31, 2009 also excludes $26.6 million of impairment charges.

Fourth quarter fiscal 2010 Engineered Solutions segment sales increased 31% from the prior year to $101 million. Excluding the impact of acquisitions (+2%) and the stronger U.S. dollar (-8%), year-over-year core sales growth was 37%. Fourth quarter sales benefited from continued strong demand from the automotive and European truck markets and significantly higher shipments to agriculture, construction equipment and North America truck customers. Fourth quarter operating margins (excluding restructuring costs) increased 980 basis points compared to the prior year due to restructuring driven cost reductions and substantially improved volumes.

Corporate expenses for the fourth quarter of fiscal 2010, excluding restructuring charges of $0.3 million, were $7.7 million, an increase of approximately $2.7 million from last year. The increase is due to higher 401(k), salary and incentive compensation costs compared to last year’s recessionary levels.

Net debt at August 31, 2010 was $327 million (total debt of $367 million less $40 million of cash). The Company deployed approximately $17 million during the quarter to fund the Selantic acquisition and reduced net debt by approximately $32 million as a result of strong operating cash flow. This was driven by solid earnings and effective working capital management. Notably, net primary working capital (accounts receivable, inventory and accounts payable) contributed $18 million to cash flow from operating activities in the quarter, despite an 18% increase in core sales. At fiscal year-end, the Company’s leverage (Net Debt/EBITDA) was below pre-recession levels and the entire $400 million revolver was available for borrowing to fund growth initiatives.

Arzbaecher continued, “As we begin fiscal 2011, we expect the overall global economy to continue to grow at a modest pace. However, we anticipate that some of our businesses will grow faster than the overall Company average due to cyclical rebounds, similar to what we experienced in the fourth quarter in our industrial and vehicle related markets. In addition, our 2011 outlook has been adjusted to reflect the planned divestiture of the European Electrical business.

Excluding future acquisitions, we expect fiscal 2011 EPS from continuing operations in the range of $1.30-1.45, 20-35% higher than comparable fiscal 2010 results. Sales growth and margin expansion will drive most of the improvement. Sales are expected to approximate $1.225-1.275 billion with core growth between 6-10% for the year. Core growth is expected to be stronger in the first half of fiscal 2011 than in the back half due to more difficult comparisons. Projected free cash flow for fiscal 2011 is $130-140 million which, if attained, would represent the 11^th consecutive year of free cash flow conversion to net earnings in excess of 100%. In addition, acquisition activity has increased and we are optimistic about the incremental potential such transactions could have on fiscal 2011 results. We expect to start the first quarter of fiscal 2011 off strong with sales in the $315-325 million range and EPS of $0.29-0.34, which at the mid-point is a 50% improvement year-over-year.

Actuant’s diversification and execution rewarded shareholders in 2010, with robust demand and profit generation from many of our end markets and geographies, which more than offset the weakness in late cycle Energy markets. We are focused on our long-term organic and acquisition driven growth strategies. With our strong cash flow and borrowing capacity, we are well positioned financially to capitalize on these opportunities.”

An investor conference call is scheduled for 10am CT today, September 29, 2010. 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 Corporation is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic and electrical tools and supplies; specialized products and services for energy related industries and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Butler, Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its businesses, visit the Company's website at www.actuant.com.

Actuant Corporation
Condensed Consolidated Balance Sheets
(Dollars in thousands)
(Unaudited)

			August 31,		August 31,
			2010		2009

ASSETS
Current assets
	Cash and cash equivalents		$ 40,222		$ 11,385
	Accounts receivable, net		185,693		155,520
	Inventories, net		146,154		160,656
	Deferred income taxes		30,701		20,855
	Other current assets, including assets of
	discontinued operations		57,380		15,246
		Total current assets	460,150		363,662

Property, plant and equipment, net			108,382		129,118
Goodwill			704,889		711,522
Other intangible assets, net			336,978		350,249
Other long-term assets			11,304		13,880

		Total assets	$ 1,621,703		$ 1,568,431

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
	Short-term borrowings		-		$ 4,964
	Trade accounts payable		130,051		108,333
	Accrued compensation and benefits		53,212		30,079
	Income taxes payable		50,318		20,578
	Other current liabilities, including liabilities of
	discontinued operations		112,256		71,140
		Total current liabilities	345,837		235,094

Long-term debt, less current maturities			367,380		400,135
Deferred income taxes			110,230		117,335
Pension and postretirement benefit accruals			28,072		37,662
Other long-term liabilities			30,463		30,835

Shareholders' equity
	Capital stock		13,610		13,543
	Additional paid-in capital		(175,157	)	(188,644	)
	Accumulated other comprehensive loss		(67,105	)	(24,599	)
	Stock held in trust		(1,934	)	(1,766	)
	Deferred compensation liability		1,934		1,766
	Retained earnings		968,373		947,070
		Total shareholders' equity	739,721		747,370

Total liabilities and shareholders' equity			$ 1,621,703		$ 1,568,431

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,
		2010		2009	2010		2009
Net sales		$ 310,362		$ 261,022	$ 1,160,508		$ 1,117,625
Cost of products sold		195,783		172,792	733,256		729,398
	Gross profit	114,579		88,230	427,252		388,227
Selling, administrative and engineering expenses		68,853		59,557	267,866		250,004
Restructuring charges		2,188		8,074	15,597		19,530
Impairment charges		-		-	-		31,321
Amortization of intangible assets		5,946		5,358	22,017		19,644
	Operating profit	37,592		15,241	121,772		67,728
Financing costs, net		7,744		10,684	31,859		41,849
Other (income) expense, net		349		198	711		(714	)
	Earnings from continuing operations before income
	tax expense	29,499		4,359	89,202		26,593
Income tax expense		8,590		423	18,846		611
Earnings from continuing operations		20,909		3,936	70,356		25,982
Gain (loss) from discontinued operations, net of income taxes		(37,723	)	12,580	(46,325	)	(12,259	)
Net earnings (loss)		$ (16,814	)	$ 16,516	$ 24,031		$ 13,723
Earnings from continuing operations per share
	Basic	$ 0.31		$ 0.06	$ 1.04		$ 0.45
	Diluted	0.29		0.06	0.97		0.43
Earnings (loss) per share
	Basic	$ (0.25	)	$ 0.26	$ 0.36		$ 0.24
	Diluted	(0.22	)	0.24	0.35		0.24
Weighted average common shares outstanding
	Basic	67,716		63,742	67,624		58,047
	Diluted	74,369		71,554	74,209		66,064

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,
	2010		2009		2010		2009

Operating Activities
Net earnings (loss)	$ (16,814	)	$ 16,516		$ 24,031		$ 13,723
Adjustments to reconcile net earnings (loss) to net cash provided by
operating activities:
Depreciation and amortization	12,796		13,480		51,875		51,978
Stock-based compensation expense	2,355		2,208		8,399		8,609
Amortization of debt discount and debt issuance costs	1,005		2,870		3,969		4,531
Provision (benefit) for deferred income taxes	(3,558	)	2,269		(2,876	)	(17,847	)
Impairment charges	36,139		-		36,139		58,274
Net gain on disposal of businesses	-		(15,831	)	(334	)	(15,831	)
Other non-cash adjustments	(148	)	1,176		(855	)	1,585
Changes in operating assets and liabilities, excluding the effects of
acquisitions and divestitures:
Accounts receivable	14,048		2,875		(14,507	)	71,215
Expiration of accounts receivable securitization program	-		-		(37,106	)	-
Inventories	(4,065	)	21,231		(7,964	)	57,963
Prepaid expenses and other assets	1,445		252		3,817		1,075
Trade accounts payable	8,047		6,090		32,727		(61,932	)
Income taxes payable	6,765		(1,987	)	16,000		(9,180	)
Accrued compensation and benefits	10,367		(1,189	)	27,361		(25,836	)
Other accrued liabilities	(16,870	)	(926	)	(19,590	)	8,388
Net cash provided by operating activities	51,512		49,034		121,086		146,715

Investing Activities
Proceeds from sale of property, plant and equipment	163		1,255		1,236		1,862
Proceeds from sale of businesses	-		38,455		7,516		38,455
Capital expenditures	(6,753	)	(6,436	)	(19,966	)	(21,454	)
Business acquisitions, net of cash acquired	(16,618	)	(3,500	)	(45,866	)	(239,422	)
Net cash provided by (used in) investing activities	(23,208	)	29,774		(57,080	)	(220,559	)

Financing Activities
Net borrowings (repayments) on revolving credit facilities and
short-term borrowings	(14,495	)	(79,542	)	(14,313	)	16,657
Principal repayments on term loans	-		(113,562	)	-		(270,000	)
Proceeds from issuance of term loan	-		-		-		115,000
Proceeds from equity offering, net of transaction costs			124,781				124,781
Open market repurchases of 2% Convertible Notes	-		(9,100	)	(22,894	)	(9,100	)
Debt issuance costs	-		(3,825	)	-		(9,158	)
Stock option exercises, related tax benefits and other	1,623		550		3,315		4,024
Cash dividend	-		-		(2,702	)	(2,251	)
Net cash used in financing activities	(12,872	)	(80,698	)	(36,594	)	(30,047	)

Effect of exchange rate changes on cash	2,509		(17	)	1,425		(7,273	)
Net increase (decrease) in cash and cash equivalents	17,941		(1,907	)	28,837		(111,164	)
Cash and cash equivalents - beginning of period	22,281		13,292		11,385		122,549
Cash and cash equivalents - end of period	$ 40,222		$ 11,385		$ 40,222		$ 11,385

ACTUANT CORPORATION
SUPPLEMENTAL UNAUDITED DATA FROM CONTINUING OPERATIONS
	(Dollars in thousands)

			FISCAL 2009											FISCAL 2010
			Q1		Q2		Q3		Q4		TOTAL			Q1		Q2		Q3		Q4		TOTAL
SALES
	INDUSTRIAL SEGMENT		$ 90,524		$ 71,682		$ 62,843		$ 61,802		$ 286,851			$ 65,308		$ 69,235		$ 79,744		$ 85,696		$ 299,983
	ENERGY SEGMENT		73,982		59,526		62,251		63,731		259,490			64,065		53,862		56,645		61,151		235,723
	ELECTRICAL SEGMENT		67,383		59,629		56,218		58,758		241,988			54,065		54,927		61,967		62,743		233,702
	ENGINEERED SOLUTIONS SEGMENT		103,385		72,872		76,308		76,731		329,296			89,202		89,414		111,712		100,772		391,100
		TOTAL	$ 335,274		$ 263,709		$ 257,620		$ 261,022		$ 1,117,625			$ 272,640		$ 267,438		$ 310,068		$ 310,362		$ 1,160,508

% SALES GROWTH
	INDUSTRIAL SEGMENT		4	%	-18	%	-38	%	-37	%	-23	%		-28	%	-3	%	27	%	39	%	5	%
	ENERGY SEGMENT		49	%	37	%	7	%	5	%	22	%		-13	%	-10	%	-9	%	-4	%	-9	%
	ELECTRICAL SEGMENT		-22	%	-29	%	-34	%	-21	%	-27	%		-20	%	-8	%	10	%	7	%	-3	%
	ENGINEERED SOLUTIONS SEGMENT		-23	%	-44	%	-47	%	-37	%	-38	%		-14	%	23	%	46	%	31	%	19	%
		TOTAL	-6	%	-23	%	-34	%	-26	%	-23	%		-19	%	1	%	20	%	19	%	4	%

OPERATING PROFIT (LOSS)
	INDUSTRIAL SEGMENT		$ 26,107		$ 15,972		$ 15,597		$ 13,692		$ 71,368			$ 13,854		$ 15,847		$ 20,703		$ 21,778		$ 72,182
	ENERGY SEGMENT		15,647		5,895		11,772		11,801		45,115			11,502		5,615		7,326		8,283		32,726
	ELECTRICAL SEGMENT		4,935		2,663		3,856		3,559		15,012			4,073		5,539		7,309		7,446		24,367
	ENGINEERED SOLUTIONS SEGMENT		7,865		(2,735	)	991		342		6,463			5,481		6,007		13,554		10,242		35,284
	CORPORATE / GENERAL		(3,197	)	(5,013	)	(4,815	)	(5,042	)	(18,066	)		(5,471	)	(5,561	)	(7,351	)	(7,710	)	(26,093	)
		TOTAL - EXCLUDING RESTRUCTURING CHARGES	$ 51,357		$ 16,782		$ 27,401		$ 24,352		$ 119,892			$ 29,439		$ 27,447		$ 41,541		$ 40,039		$ 138,466
	RESTRUCTURING CHARGES		(674	)	(2,564	)	(8,494	)	(9,111	)	(20,843	)		(2,831	)	(9,968	)	(1,448	)	(2,447	)	(16,694	)
	IMPAIRMENT CHARGES		(26,553	)	-		(4,768	)	-		(31,321	)		-		-		-		-		-
		TOTAL	$ 24,130		$ 14,218		$ 14,139		$ 15,241		$ 67,728			$ 26,608		$ 17,479		$ 40,093		$ 37,592		$ 121,772

OPERATING PROFIT %
	INDUSTRIAL SEGMENT		28.8	%	22.3	%	24.8	%	22.2	%	24.9	%		21.2	%	22.9	%	26.0	%	25.4	%	24.1	%
	ENERGY SEGMENT		21.1	%	9.9	%	18.9	%	18.5	%	17.4	%		18.0	%	10.4	%	12.9	%	13.5	%	13.9	%
	ELECTRICAL SEGMENT		7.3	%	4.5	%	6.9	%	6.1	%	6.2	%		7.5	%	10.1	%	11.8	%	11.9	%	10.4	%
	ENGINEERED SOLUTIONS SEGMENT		7.6	%	-3.8	%	1.3	%	0.4	%	2.0	%		6.1	%	6.7	%	12.1	%	10.2	%	9.0	%
		TOTAL (INCLUDING CORPORATE) - EXCLUDING RESTRUCTURING CHARGES	15.3	%	6.4	%	10.6	%	9.3	%	10.7	%		10.8	%	10.3	%	13.4	%	12.9	%	11.9	%

EBITDA
	INDUSTRIAL SEGMENT		$ 27,139		$ 17,058		$ 18,208		$ 15,322		$ 77,727			$ 15,633		$ 16,639		$ 21,632		$ 24,268		$ 78,172
	ENERGY SEGMENT		21,671		11,492		15,080		16,235		64,478			15,493		10,072		11,353		11,731		48,649
	ELECTRICAL SEGMENT		6,438		4,113		5,494		5,186		21,231			5,675		6,988		8,632		8,876		30,171
	ENGINEERED SOLUTIONS SEGMENT		12,417		1,274		3,879		4,953		22,524			8,981		10,168		17,373		14,379		50,901
	CORPORATE / GENERAL		(3,110	)	(4,058	)	(4,237	)	(4,196	)	(15,601	)		(4,771	)	(4,339	)	(6,542	)	(7,252	)	(22,904	)
		TOTAL - EXCLUDING RESTRUCTURING CHARGES	$ 64,555		$ 29,879		$ 38,424		$ 37,500		$ 170,358			$ 41,011		$ 39,528		$ 52,448		$ 52,002		$ 184,989
	RESTRUCTURING CHARGES		(674	)	(2,564	)	(8,494	)	(9,111	)	(20,843	)		(2,831	)	(9,968	)	(1,448	)	(2,447	)	(16,694	)
	IMPAIRMENT CHARGES		(26,553	)	-		(4,768	)	-		(31,321	)		-		-		-		-		-
		TOTAL	$ 37,328		$ 27,315		$ 25,162		$ 28,389		$ 118,194			$ 38,180		$ 29,560		$ 51,000		$ 49,555		$ 168,295
													`
EBITDA %
	INDUSTRIAL SEGMENT		30.0	%	23.8	%	29.0	%	24.8	%	27.1	%		23.9	%	24.0	%	27.1	%	28.3	%	26.1	%
	ENERGY SEGMENT		29.3	%	19.3	%	24.2	%	25.5	%	24.8	%		24.2	%	18.7	%	20.0	%	19.2	%	20.6	%
	ELECTRICAL SEGMENT		9.6	%	6.9	%	9.8	%	8.8	%	8.8	%		10.5	%	12.7	%	13.9	%	14.1	%	12.9	%
	ENGINEERED SOLUTIONS SEGMENT		12.0	%	1.7	%	5.1	%	6.5	%	6.8	%		10.1	%	11.4	%	15.6	%	14.3	%	13.0	%
		TOTAL (INCLUDING CORPORATE) - EXCLUDING RESTRUCTURING CHARGES	19.3	%	11.3	%	14.9	%	14.4	%	15.2	%		15.0	%	14.8	%	16.9	%	16.8	%	15.9	%


ACTUANT CORPORATION
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
	(Dollars in thousands, except for per share amounts)		FISCAL 2009										FISCAL 2010
			Q1		Q2		Q3		Q4		TOTAL		Q1		Q2		Q3		Q4		TOTAL
OPERATING PROFIT (LOSS), EXCLUDING RESTRUCTURING CHARGES
AND IMPAIRMENT CHARGES
	INDUSTRIAL SEGMENT
		OPERATING PROFIT (GAAP MEASURE)	$ 26,007		$ 15,545		$ 14,633		$ 11,266		$ 67,451		$ 13,676		$ 10,937		$ 20,374		$ 21,357		$ 66,344
		RESTRUCTURING CHARGES	100		427		964		2,426		3,917		178		4,910		329		421		5,838
		ADJUSTED OPERATING PROFIT (NON-GAAP MEASURE)	$ 26,107		$ 15,972		$ 15,597		$ 13,692		$ 71,368		$ 13,854		$ 15,847		$ 20,703		$ 21,778		$ 72,182

	ENERGY SEGMENT
		OPERATING PROFIT (GAAP MEASURE)	$ 15,533		$ 5,976		$ 11,508		$ 11,075		$ 44,092		$ 11,359		$ 3,922		$ 7,203		$ 8,218		$ 30,702
		RESTRUCTURING CHARGES	114		(81	)	264		726		1,023		143		1,693		123		65		2,024
		ADJUSTED OPERATING PROFIT (NON-GAAP MEASURE)	$ 15,647		$ 5,895		$ 11,772		$ 11,801		$ 45,115		$ 11,502		$ 5,615		$ 7,326		$ 8,283		$ 32,726

	ELECTRICAL SEGMENT
		OPERATING PROFIT (LOSS) (GAAP MEASURE)	$ 4,900		$ 1,959		$ (4,293	)	$ 762		$ 3,327		$ 2,186		$ 4,373		$ 6,775		$ 6,519		$ 19,853
		RESTRUCTURING CHARGES	35		704		3,381		2,797		6,917		1,887		1,166		534		927		4,514
		IMPAIRMENT CHARGE	-		-		4,768		-		4,768		-		-		-		-		-
		ADJUSTED OPERATING PROFIT (NON-GAAP MEASURE)	$ 4,935		$ 2,663		$ 3,856		$ 3,559		$ 15,012		$ 4,073		$ 5,539		$ 7,309		$ 7,446		$ 24,367

	ENGINEERED SOLUTIONS
		OPERATING PROFIT (LOSS) (GAAP MEASURE)	$ (19,113	)	$ (3,985	)	$ (2,670	)	$ (2,664	)	$ (28,432	)	$ 5,053		$ 3,995		$ 13,170		$ 9,463		$ 31,681
		RESTRUCTURING CHARGES	425		1,250		3,661		3,006		8,342		428		2,012		384		779		3,603
		IMPAIRMENT CHARGE	26,553		-		-		-		26,553		-		-		-		-		-
		ADJUSTED OPERATING PROFIT (LOSS) (NON-GAAP MEASURE)	$ 7,865		$ (2,735	)	$ 991		$ 342		$ 6,463		$ 5,481		$ 6,007		$ 13,554		$ 10,242		$ 35,284

	CORPORATE
		OPERATING LOSS (GAAP MEASURE)	$ (3,197	)	$ (5,277	)	$ (5,039	)	$ (5,198	)	$ (18,710	)	$ (5,666	)	$ (5,748	)	$ (7,429	)	$ (7,965	)	$ (26,808	)
		RESTRUCTURING CHARGES	-		264		224		156		644		195		187		78		255		715
		ADJUSTED OPERATING LOSS (NON-GAAP MEASURE)	$ (3,197	)	$ (5,013	)	$ (4,815	)	$ (5,042	)	$ (18,066	)	$ (5,471	)	$ (5,561	)	$ (7,351	)	$ (7,710	)	$ (26,093	)

NET EARNINGS (LOSS), EXCLUDING RESTRUCTURING CHARGES,
IMPAIRMENT CHARGES, INCOME TAX ADJUSTMENTS, DEBT
EXTINGUISHMENT CHARGES AND DISCONTINUED OPERATIONS (2)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 11,598		$ 3,244		$ (17,635	)	$ 16,516		$ 13,723		$ 11,854		$ 7,157		$ 21,835		$ (16,814	)	$ 24,031
		RESTRUCTURING CHARGES, NET OF TAX BENEFIT	481		1,553		4,920		6,055		13,009		1,804		6,863		1,069		1,938		11,674
		IMPAIRMENT CHARGES, NET OF TAX BENEFIT	16,463		-		2,981		-		19,444		-		-		-		-		-
		INCOME TAX ADJUSTMENTS	-		-		-		-		-		-		-		632		-		632
		DEBT EXTINGUISHMENT CHARGES, NET OF TAX BENEFIT	(236	)	-		-		1,303		1,067		-		-		-		-		-
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT	30		1,864		22,945		(12,580	)	12,259		1,406		738		1,853		37,723		41,720
		TOTAL (NON-GAAP MEASURE)	$ 28,336		$ 6,661		$ 13,211		$ 11,294		$ 59,502		$ 15,064		$ 14,758		$ 25,389		$ 22,847		$ 78,057

DILUTED EARNINGS (LOSS) PER SHARE, EXCLUDING RESTRUCTURING
CHARGES, IMPAIRMENT CHARGES, INCOME TAX ADJUSTMENTS, DEBT
EXTINGUISHMENT CHARGES AND DISCONTINUED OPERATIONS (2)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 0.19		$ 0.06		$ (0.27	)	$ 0.24		$ 0.24		$ 0.17		$ 0.10		$ 0.30		$ (0.22	)	$ 0.35
		RESTRUCTURING CHARGES, NET OF TAX BENEFIT	0.01		0.02		0.08		0.09		0.20		0.02		0.10		0.01		0.02		0.16
		IMPAIRMENT CHARGES, NET OF TAX BENEFIT	0.26		-		0.05		-		0.29		-		-		-		-		-
		INCOME TAX ADJUSTMENTS	-		-		-		-		-		-		-		0.01		-		0.01
		DEBT EXTINGUISHMENT CHARGES, NET OF TAX BENEFIT	(0.00	)	-		-		0.02		0.02		-		-		-		-		-
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT	-		0.03		0.36		(0.18	)	0.19		0.02		0.01		0.03		0.51		0.56
		TOTAL (NON-GAAP MEASURE)	$ 0.45		$ 0.11		$ 0.22		$ 0.17		$ 0.94		$ 0.21		$ 0.21		$ 0.35		$ 0.31		$ 1.08

EBITDA (3)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$ 11,598		$ 3,244		$ (17,635	)	$ 16,516		$ 13,723		$ 11,854		$ 7,157		$ 21,835		$ (16,814	)	$ 24,031
		FINANCING COSTS, NET	12,235		9,904		9,026		10,684		41,849		8,538		7,798		7,779		7,744		31,859
		INCOME TAX EXPENSE	1,487		(15	)	(1,284	)	423		611		4,529		2,020		3,706		8,590		18,846
		DEPRECIATION & AMORTIZATION	11,978		12,318		12,110		13,346		49,752		11,853		11,847		11,222		12,312		47,234
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT	30		1,864		22,945		(12,580	)	12,259		1,406		738		6,458		37,723		46,325
		EBITDA (NON-GAAP MEASURE)	$ 37,328		$ 27,315		$ 25,162		$ 28,389		$ 118,194		$ 38,180		$ 29,560		$ 51,000		$ 49,555		$ 168,295
		IMPAIRMENT CHARGES	26,553		-		4,768		-		31,321		-		-		-		-		-
		RESTRUCTURING CHARGES	674		2,564		8,494		9,111		20,843		2,831		9,968		1,448		2,447		16,694
		EBITDA (NON-GAAP MEASURE) - EXCLUDING DISCONTINUED
		OPERATIONS, IMPAIRMENT AND RESTRUCTURING CHARGES	$ 64,555		$ 29,879		$ 38,424		$ 37,500		$ 170,358		$ 41,011		$ 39,528		$ 52,448		$ 52,002		$ 184,989

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

(3) EBITDA represents net earnings before financing costs, net, income tax expense, depreciation & amortization 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 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.

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

Industrial Segment
(US $ in millions)
	Three Months Ended August 31,		Twelve Months Ended August 31,
	2010	2009	2010	2009
Sales	$85.7	$61.8	$300.0	$286.9
Operating Profit	$21.4	$11.3	$66.3	$67.5
Adjusted Operating Profit⁽¹⁾	$21.8	$13.7	$72.2	$71.4
Adjusted Operating Profit %⁽¹⁾	25.4%	22.2%	24.1%	24.9%

Energy Segment
(US $ in millions)
	Three Months Ended August 31,		Twelve Months Ended August 31,
	2010	2009	2010	2009
Sales	$61.2	$63.7	$235.7	$259.5
Operating Profit	$8.2	$11.1	$30.7	$44.1
Adjusted Operating Profit⁽²⁾	$8.3	$11.8	$32.7	$45.1
Adjusted Operating Profit %⁽²⁾	13.5%	18.5%	13.9%	17.4%

Electrical Segment
(US $ in millions)
	Three Months Ended August 31,		Twelve Months Ended August 31,
	2010	2009	2010	2009
Sales	$62.7	$58.8	$233.7	$242.0
Operating Profit (Loss)	$6.5	$0.8	$19.9	$3.3
Adjusted Operating Profit⁽³⁾	$7.4	$3.6	$24.4	$15.0
Adjusted Operating Profit %⁽³⁾	11.9%	6.1%	10.4%	6.2%

Engineered Solutions Segment
(US $ in millions)
	Three Months Ended August 31,		Twelve Months Ended August 31,
	2010	2009	2010	2009
Sales	$100.8	$76.7	$391.1	$329.3
Operating Profit (Loss)	$9.5	$(2.7)	$31.7	$(28.4)
Adjusted Operating Profit⁽⁴⁾	$10.2	$0.3	$35.3	$6.5
Adjusted Operating Profit %⁽⁴⁾	10.2%	0.4%	9.0%	2.0%