Key Developments: Actuant Corp (ATU)
34.07USD
21 May 2013
$0.01 (+0.03%)
$33.95
$34.03
$34.17
$34.03
9,071
562,065
$34.31
$24.23
Latest Key Developments (Source: Significant Developments)
Actuant Corp Issues Q3 2013 Guidance; Revenue Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance
Actuant Corp announced that for third quarter of 2013, it expects sales to be in the $410-$420 million range. EPS is expected to be in the $0.63-$0.68 range compared to $0.60 in the prior year, with continued cost reduction actions and a lower than full year average income tax rate incorporated into the guidance. The Company revised fiscal 2013 guidance and expects sales and earnings per share (EPS) to a range between $1.575-$1.600 billion and $2.15-$2.25. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $441 million and EPS of $0.67 for third quarter of 2013; revenue of $1.6 billion and EPS of $2.18 for fiscal 2013. Full Article
Actuant Corp Issues Q2 2013 Guidance Below Analysts' Estimates; Lowers FY 2013 Revenue Guidance; Reaffirms FY 2013 EPS Guidance
Actuant Corp announced that for second quarter of 2013, it expects sales in the range of $360-$370 million and earnings per share (EPS) in the range of $0.34-$0.38. For fiscal 2013, it expects sales to be approximately $1.600-1.625 billion, with core sales for the year down 1%-3%. The Company reaffirmed fiscal 2013 EPS gudeance. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $392 million and EPS of $0.46 for second quarter of 2013; revenue of $1.67 billion and EPS of $2.27 for fiscal 2013. Full Article
Lifshitz Law Firm Announces Investigation of Actuant Corp
Lifshitz Law Firm announced that an investigation into possible breaches of fiduciary duty in connection with the proposed vote scheduled for January 15, 2013 to approve an amendment to the Actuant Corp("Actuant") 2009 Omnibus Incentive Plan (the "Plan") to, among other things, increase the number of shares of Class A common stock issuable under the Plan by an additional 4,000,000 shares. The increase in the number of Class A common stock could have a substantial dilutive effect on Actuant stock. Full Article
Faruqi & Faruqi, LLP Launches Investigation Against Actuant Corp For Potential Breaches Of Fiduciary Duties By Board Of Directors
Faruqi & Faruqi, LLP, national securities firm headquartered in New York City, announced that it is investigating the Board of Directors of Actuant Corp (Actuant or the Company) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the Company's Omnibus Incentive Plan. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on December 3, 2012, the Board of Directors recommends that Actuant's shareholders vote to approve an amendment to the Company's 2009 Omnibus Incentive Plan to, among other things, increase the number of shares of Class A common stock issuable under the plan by an additional 4,000,000 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of Actuant common stock. Full Article
Actuant Corp Raises FY 2013 Guidance
Actuant Corp updated fiscal 2013 guidance and expects sales to be in the range of $1.68-1.72 billion and earnings per share (EPS) in the range of $2.20-$2.30, excluding the impact of future acquisitions and potential share repurchases. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.68 billion and EPS of $2.26 for fiscal 2013. Full Article
Actuant Corp Announces Dividend
Actuant Corp announced that its Board of Directors has approved a cash dividend on the Company’s common stock. The Board declared an annual dividend of $0.04 per common share payable on October 16, 2012 to shareholders of record at the close of business on September 28, 2012. Full Article
Actuant Corp Acquires CrossControl AB
Actuant Corp announced that it has completed the acquisition of Alfta, Sweden based CrossControl AB for cash of approximately $40 million, plus potential future performance related consideration. CrossControl is a provider of advanced electronic solutions for user-machine interaction, vehicle control, and mobile connectivity in critical environments and has annual revenues of approximately $40 million. Full Article
Actuant Corp Issues FY 2013 Guidance Below Analysts' Estimates
Actuant Corp announced that for fiscal 2013, it expects sales to be in the range of $1.60-$1.61 billion and earnings per share (EPS) in the range of $2.03-$2.08. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.705 billion and EPS of $2.27 for fiscal 2013. Full Article
Levi & Korsinsky, LLP Launches Investigation Into Possible Breaches Of Fiduciary Duty By Board Of Directors Of Actuant Corp In Connection With Executive Compensation
Levi & Korsinsky, LLP announced that it is investigating Actuant Corp and its Board of Directors, in connection with the compensation provided to certain executive officers. Full Article
Actuant Corp Closing of Senior Notes Offering
Actuant Corp announced the closing of its private placement of $300 million aggregate principal amount of 5.625% senior notes due 2022 at an issue price of 100%. The Company will use the net proceeds from the offering to fund the tender offer and consent solicitation for, or the redemption by the Company of, as applicable, its existing 6.875% senior notes due 2017 of which $250 million aggregate principal amount is outstanding. The remaining net proceeds will be used for general corporate purposes. Full Article
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