Actuant Corp., Milwaukee, WI, reported sales for the second quarter ended Feb. 28, 2009, were $300 million, down 25% from 2008. Core sales declined 27%. Profit for the quarter declined 86% to $3.2 million.
For the first six months, sales were $680 million, 17% lower than the prior year period. Profit was down 70% to $$14.8 million.
Normal seasonal weakness in the second quarter was compounded by he global economic conditions. The diversified industrial company will continue to implement restructuring and cost reduction actions to help offset the weaker demand, said CEO Robert C. Arzbaecher. We have reduced headcount, consolidated facilities, eliminated shifts and established short work week schedules to better align our production, inventory and costs with …
Actuant Sales Fall 25% In 2Q
Actuant Corp., Milwaukee, WI, reported sales for the second quarter ended Feb. 28, 2009, were $300 million, down 25% from 2008. Core sales declined 27%. Profit for the quarter declined 86% to $3.2 million.
For the first six months, sales were $680 million, 17% lower than the prior year period. Profit was down 70% to $$14.8 million.
Normal seasonal weakness in the second quarter was compounded by he global economic conditions. The diversified industrial company will continue to implement restructuring and cost reduction actions to help offset the weaker demand, said CEO Robert C. Arzbaecher. We have reduced headcount, consolidated facilities, eliminated shifts and established short work week schedules to better align our production, inventory and costs with …
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