UPDATE: Actuant Posts Upbeat FQ4 Profit
Actuant (NYSE: ATU) posted a loss in the fiscal fourth quarter.
For the current quarter, Actuant expects earnings of $0.48 to $0.52 per share on revenue of $390 million to $395 million. However, analysts were expecting earnings of $0.52 per share on revenue of $404 million.
Actuant posted a quarterly loss of $16.5 million, or $0.23 per share, versus a year-ago profit of $41.4 million, or $0.55 per share. Excluding one-time items, Actuant's earnings from continuing operations came in at $0.55 per share.
Its revenue rose 0.5% to $405.3 million. However, analysts were expecting earnings of $0.54 per share on revenue of $410 million.
Actuant's gross margin rose to 38.8% from 38.4%.
Actuant shares dropped 0.84% to $29.60 in pre-market trading.
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