Sales for the year ended August 31, 2012 were $1.61 billion, 11% higher than the $1.45 billion in the prior year. Excluding the 8% impact from acquisitions and negative 2% impact of the weaker Euro, full year core sales increased 5%. Earnings and EPS from continuing operations for the year ended August 31, 2012 were $87.3 million and $1.17, respectively, compared to $124.5 million and $1.68 in the prior year. Fiscal 2012 results include pre-tax debt refinancing costs of $16.8 million, or $0.15 per diluted share after tax and a non-cash asset impairment charge of $62.5 million pre-tax, or $0.76 per diluted share after tax. Excluding these costs, fiscal 2012 EPS from continuing operations of $2.08 was 24% higher than the $1.68 in the prior year. (See attached reconciliation of earnings.)Commenting on the full year results, Arzbaecher stated, “Fiscal 2012 results illustrate the benefit of Actuant’s diversity and growth oriented business model. We delivered core sales growth for the year of 5% and deployed $70 million in tuck-in acquisitions with a focus on higher growth markets. Adjusted operating profit improved 110 basis points, despite incremental investment in our Growth + Innovation (“G+I”) initiatives. We generated 24% EPS growth, excluding special items, well above our initial 2012 guidance. This was accomplished through a combination of improved sales and operating performance, a stronger capital structure with lower interest expense and outstanding shares, and the benefit of tuck-in acquisitions. This in turn drove record free cash flow and reduced Actuant’s debt to EBITDA leverage to the lowest level in our history. These record results are a testament to the consistent execution of our proven business model and I want to thank Actuant employees across the organization for their efforts in achieving this strong performance.”
|(US $ in millions)|
|Three Months Ended August 31,||Year Ended August 31,|
|Operating Profit %||26.6%||26.2%||27.4%||25.0%|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV