We expect first quarter fiscal 2013 sales in the $390-395 million range and EPS of $0.48-0.52. Results in the first fiscal quarter reflect the toughest comparables of the fiscal year for both foreign currency and core growth, and include the impact of lower anticipated production schedules at certain customers served by the Engineered Solutions segment.
Our guidance excludes the impact of any future acquisitions and share repurchases, as the timing and investment levels are unknown. However, the acquisition pipeline is robust and, with our strong cash flow and capital structure, we are well positioned financially to fund both growth investments and opportunistic share buy-backs.
In summary, we are targeting record sales, earnings and cash flow in fiscal 2013, reflecting the benefit of our diverse business portfolio, demonstrated operational capabilities and a focus on our G+I initiatives. We believe ongoing execution of our proven business model will enable Actuant to continue to create shareholder value."
Conference Call Information
An investor conference call is scheduled for 10am CDT today, September 27, 2012. Webcast information and conference call materials will be made available on the Actuant company website (
) prior to the start of the call.
Safe Harbor Statement
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.