Actuant Corp., a Milwaukee-based industrial equipment company, reported sales growth but an earnings decline in the third quarter of fiscal year 2012.
The company saw its sales increase to $429 million, a 9% increased over the prior year quarter, but a reported that net income dropped from $38.4 to $34.4 million, a decline of 5.4%.
It’s full-year guidance for fiscal 2012 calls for sales and earnings per share of $1.665-$1.7 billion and $2.15-$2.30, respectively.
Robert C. Arzbaecher, Chairman and CEO of Actuant, acknowledged that growth rates moderated from the pace of the past nine quarters, but noted the company delivered financial metrics at the high end of its guidance range even with the impact of foreign currency headwinds.
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