UPDATE: Actuant Posts Upbeat Q3 Results
Actuant (NYSE: ATU) posted a loss in the fiscal third quarter.
Actuant posted a quarterly net loss of $93 million, or $1.24 per share, versus a year-ago profit of $34.4 million, or $0.45 per share. Excluding one-time items, its earnings from continuing operations surged to $0.62 per share, versus $0.51 per share. However, analysts were projecting earnings of $0.60 per share.
Its revenue increased to $344.2 million from $343.3 million, versus estimates of $343.8 million.
Actuant expects FY13 earnings of $1.85 to $1.90 per share on revenue of $1.28 billion to $1.29 billion. However, analysts expect earnings of $2.01 per share on revenue of $1.31 billion.
Actuant shares closed at $33.08 yesterday.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.