Key Developments: Actuant Corp (ATU)

ATU on New York Consolidated

27.48USD
26 Dec 2014
Price Change (% chg)

$0.27 (+0.99%)
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Latest Key Developments (Source: Significant Developments)

Actuant Corp Raises FY 2014 Guidance; Issues Q1 2014 Guidance; Revenue Guidance Above Analysts' Estimates
Tuesday, 1 Oct 2013 08:00am EDT 

Actuant Corp announced that for fiscal 2014, it expects total sales of $1.41-1.45 billion, including approximately $100 million of Viking fiscal 2014 revenue. On a year-over-year basis, the higher sales coupled with operational initiatives and completed share repurchases should result in fiscal 2014 EPS of $2.00-2.10, an increase of 9-14% compared to fiscal 2013, excluding special items. For first quarter of 2014, it expects sales in the range of $325-335 million and EPS in the range of $0.43-0.46. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.36 billion and EPS of $2.04 for fiscal 2014; revenue of $321 million and EPS of $0.43 for first quarter of 2014  Full Article

Actuant Corp Completes Acquisition of Viking SeaTech
Tuesday, 27 Aug 2013 04:30pm EDT 

Actuant Corp announced the completion of its acquisition of Viking SeaTech (Viking). Total consideration for the previously announced transaction was GBP150 million (approximately $225 million) which was funded from the Company`s cash and revolving credit facility.  Full Article

Actuant Corp Announces CEO Retirement
Thursday, 8 Aug 2013 08:00am EDT 

Actuant Corp announced that Robert C. Arzbaecher has decided to retire as President and Chief Executive Officer (CEO) of the Company, effective at the Annual Shareholders Meeting in January 2014. He will remain Chairman of the Board. Mark E. Goldstein, Chief Operating Officer (COO), will assume the role of President immediately and was added to the Board. He will become CEO upon Arzbaecher's retirement in January.  Full Article

Actuant Corp Announces Dividend
Wednesday, 7 Aug 2013 05:00pm EDT 

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 15, 2013 to shareholders of record at the close of business on September 30, 2013.  Full Article

Actuant Corp Signs Agreement To Acquire Viking Seatech
Friday, 2 Aug 2013 07:30am EDT 

Actuant Corp announced the signing of a definitive agreement to acquire Viking SeaTech (Viking). The purchase is subject to customary regulatory approvals and closing conditions, and is expected to be completed within 45 days. The approximately GBP150 million ($225 million) purchase price will be funded from the Company's cash and revolving credit facility, and excludes potential future performance related consideration. Viking generated approximately $90 million in revenue in the past twelve months.  Full Article

Actuant Corp Amends and Extends Senior Credit Facility
Thursday, 18 Jul 2013 05:00pm EDT 

Actuant Corp announced that it has amended and extended its senior credit facility. The amended credit facility continues to consist of a $600 million revolver and term loan, but the maturity date has been extended to July 2018 from February 2016. The expansion option was upsized to $350 million, subject to certain conditions. In addition, the amended agreement contains favorable adjustments to the pricing grid for borrowings, non-use and other fees, along with increased flexibility in other terms, conditions and covenants.  Full Article

Actuant Corp Issues FY 2014 Guidance Below Analysts' Estimates
Wednesday, 19 Jun 2013 08:00am EDT 

Actuant Corp announced that for fiscal 2014, it expects sales and EPS from continuing operations expected to be $1.315-$1.340 billion and $1.95- $2.05, respectively. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.353 billion and EPS of $2.15 for fiscal 2014.  Full Article

Actuant Corp Announces Decision To Divest Electrical Segment
Monday, 3 Jun 2013 09:15am EDT 

Actuant Corp announced that its Board of Directors has authorized a plan to commence a divestiture process for its Electrical segment. Actuant has retained Robert W. Baird & Company to advise on the process and plans to reclassify the segment to discontinued operations in the third quarter of fiscal 2013.  Full Article

Actuant Corp Reaffirms Q3 2013 Guidance-Conference Call
Monday, 3 Jun 2013 09:15am EDT 

Actuant Corp reaffirmed its prior third quarter of 2013 guidance, which included sales of $410-420 million and EPS of $0.63-0.68. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.66 for third quarter of 2013.  Full Article

Actuant Corp Issues Q3 2013 Guidance; Revenue Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance
Wednesday, 20 Mar 2013 08:00am EDT 

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

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