UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
Date
of Report (Date of earliest event reported): October 4, 2018
ACTUANT
CORPORATION
(Exact
name of Registrant as specified in its charter)
Wisconsin |
1-11288 |
39-0168610 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
N86 W12500 WESTBROOK CROSSING |
MENOMONEE FALLS, WISCONSIN 53051 |
|
Mailing address: P.O. Box 3241, Milwaukee, Wisconsin 53201 |
(Address of principal executive offices) (Zip code) |
Registrant’s
telephone number, including area code: (262) 293-1500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). |
Emerging growth company ⃞ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⃞ |
Item 2.02 Results of Operations and Financial Condition.
On October 4, 2018, Actuant Corporation (the “Company”) issued a press
release providing additional details of its previously announced segment
reorganization, including certain unaudited historical financial results
for both the Company’s current and previous reportable segments,
referenced in conjunction with the Company’s September 26, 2018 report
of its results of operations for the fourth quarter ended August 31,
2018. A copy of the press release providing additional details of the
segment reorganization is attached as Exhibit 99.1 to this report on
Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release of the Company dated October 4, 2018.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
ACTUANT CORPORATION |
|||||
(Registrant) |
|||||
Date: | October 5, 2018 | By: |
/s/ Fabrizio Rasetti |
||
|
Fabrizio Rasetti |
||||
Executive Vice President, General Counsel |
|||||
and Secretary |
- 3 -
Exhibit 99.1
Actuant Provides Details of Business Segment Realignment
MILWAUKEE--(BUSINESS WIRE)--October 4, 2018--As previously announced, Actuant Corporation (the “Company”) has realigned its financial reporting segments. The change is effective for the Company’s fourth quarter of 2018. The realignment reflects changes in the operating structure of the Company with the combination of the Company’s tools and services business and all OEM-related businesses into two operating segments: Industrial Tools & Services (“IT&S”) and Engineered Components & Systems (“EC&S”), respectively.
The IT&S segment results from the consolidation of the former Industrial segment, excluding the Precision-Hayes business, with the Hydratight and Mirage businesses from the former Energy segment. The new segment concentrates on product sales and service as well as rental capabilities. Executive Vice President Jeff Schmaling will lead the segment.
The EC&S segment is comprised of the former Engineered Solutions segment and now includes the Precision-Hayes business and the former Energy segment businesses, Cortland and Viking (which was divested in the second quarter of Fiscal 2018). The segment is focused on highly engineered components for transportation, agricultural, construction and other vertical markets and will be led by Executive Vice President, Roger Roundhouse.
In addition, the Company’s reportable product lines are being reorganized into the following structure: IT&S product lines - Product and Service & Rental; and EC&S product lines - On-Highway; Agriculture, Off-Highway and Other; Rope & Cable Solutions; Concrete Tensioning; and Off-Shore Mooring (divested in connection with the sale of the Viking business). The product line reporting change is also effective for the Company’s fourth quarter of 2018.
For comparative purposes, the Company has included as an attachment to this release certain unaudited historical financial results for both the new and prior segment and product line reporting. The updated segment presentation will be reflected in the Company’s forthcoming Annual Report on Form 10-K. The segment and product line reorganizations do not impact the Company’s audited consolidated financial statements.
About Actuant Corporation
Actuant Corporation is a diversified industrial company serving customers from operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic tools and solutions; specialized products and services for energy markets and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its businesses, visit the Company's website at www.actuant.com.
(tables follow)
ACTUANT CORPORATION | ||||||||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||
RESULTS BY REPORTING SEGMENT | ||||||||||||||||||||||||||||||
NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||
FISCAL | FISCAL | FISCAL | FISCAL | FISCAL | FISCAL | |||||||||||||||||||||||||
2016 | 2017 | 2018 | 2016 | 2017 | 2018 | |||||||||||||||||||||||||
SALES | SALES | |||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 588,207 | $ | 552,582 | $ | 591,085 | INDUSTRIAL SEGMENT | $ | 359,817 | $ | 379,755 | $ | 415,897 | |||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 561,203 | 543,202 | 591,526 | ENERGY SEGMENT | 392,731 | 309,594 | 303,144 | |||||||||||||||||||||||
TOTAL | $ | 1,149,410 | $ | 1,095,784 | $ | 1,182,611 | ENGINEERED SOLUTIONS SEGMENT | 396,862 | 406,435 | 463,570 | ||||||||||||||||||||
TOTAL | $ | 1,149,410 | $ | 1,095,784 | $ | 1,182,611 | ||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | OPERATING PROFIT (LOSS) | |||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 123,809 | $ | 98,377 | $ | 103,718 | INDUSTRIAL SEGMENT | $ | 82,929 | $ | 86,623 | $ | 90,396 | |||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 11,173 | 8,501 | 24,787 | ENERGY SEGMENT | 38,851 | (99 | ) | 12,340 | ||||||||||||||||||||||
CORPORATE / GENERAL | (29,025 | ) | (25,123 | ) | (24,404 | ) | ENGINEERED SOLUTIONS SEGMENT | 13,187 | 20,359 | 25,698 | ||||||||||||||||||||
ADJUSTED OPERATING PROFIT | $ | 105,957 | $ | 81,755 | $ | 104,101 | CORPORATE / GENERAL | (29,010 | ) | (25,128 | ) | (24,333 | ) | |||||||||||||||||
IMPAIRMENT & DIVESTITURE CHARGES | (186,511 | ) | (116,979 | ) | (73,058 | ) | ADJUSTED OPERATING PROFIT | $ | 105,957 | $ | 81,755 | $ | 104,101 | |||||||||||||||||
RESTRUCTURING CHARGES | (14,571 | ) | (7,228 | ) | (12,845 | ) | IMPAIRMENT & DIVESTITURE CHARGES | (186,511 | ) | (116,979 | ) | (73,058 | ) | |||||||||||||||||
LOSS ON SALE OF PRODUCT LINE DIVESTITURE | (5,092 | ) | - | - | RESTRUCTURING CHARGES | (14,571 | ) | (7,228 | ) | (12,845 | ) | |||||||||||||||||||
DIRECTOR & OFFICER TRANSITION CHARGES | - | (7,784 | ) | - | LOSS ON SALE OF PRODUCT LINE DIVESTITURE | (5,092 | ) | - | - | |||||||||||||||||||||
OPERATING PROFIT (LOSS) | $ | (100,217 | ) | $ | (50,236 | ) | $ | 18,198 | DIRECTOR & OFFICER TRANSITION CHARGES | - | (7,784 | ) | - | |||||||||||||||||
OPERATING PROFIT (LOSS) | $ | (100,217 | ) | $ | (50,236 | ) | $ | 18,198 | ||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | ADJUSTED OPERATING PROFIT % | |||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | 21.0 | % | 17.8 | % | 17.5 | % | INDUSTRIAL SEGMENT | 23.0 | % | 22.8 | % | 21.7 | % | |||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 2.0 | % | 1.6 | % | 4.2 | % | ENERGY SEGMENT | 9.9 | % | 0.0 | % | 4.1 | % | |||||||||||||||||
ADJUSTED OPERATING PROFIT % | 9.2 | % | 7.5 | % | 8.8 | % | ENGINEERED SOLUTIONS SEGMENT | 3.3 | % | 5.0 | % | 5.5 | % | |||||||||||||||||
ADJUSTED OPERATING PROFIT % | 9.2 | % | 7.5 | % | 8.8 | % | ||||||||||||||||||||||||
EBITDA | EBITDA | |||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 137,923 | $ | 111,097 | $ | 119,318 | INDUSTRIAL SEGMENT | $ | 90,858 | $ | 93,707 | $ | 98,371 | |||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 42,092 | 34,911 | 48,478 | ENERGY SEGMENT | 59,852 | 16,826 | 28,938 | |||||||||||||||||||||||
CORPORATE / GENERAL | (27,640 | ) | (23,896 | ) | (22,366 | ) | ENGINEERED SOLUTIONS SEGMENT | 29,154 | 34,807 | 40,619 | ||||||||||||||||||||
ADJUSTED EBITDA | $ | 152,375 | $ | 122,112 | $ | 145,430 | CORPORATE / GENERAL | (27,489 | ) | (23,228 | ) | (22,498 | ) | |||||||||||||||||
IMPAIRMENT & DIVESTITURE CHARGES | (186,511 | ) | (116,979 | ) | (73,058 | ) | ADJUSTED EBITDA | $ | 152,375 | $ | 122,112 | $ | 145,430 | |||||||||||||||||
RESTRUCTURING CHARGES | (14,571 | ) | (7,228 | ) | (12,845 | ) | IMPAIRMENT & DIVESTITURE CHARGES | (186,511 | ) | (116,979 | ) | (73,058 | ) | |||||||||||||||||
LOSS ON SALE OF PRODUCT LINE DIVESTITURE | (5,092 | ) | - | - | RESTRUCTURING CHARGES | (14,571 | ) | (7,228 | ) | (12,845 | ) | |||||||||||||||||||
DIRECTOR & OFFICER TRANSITION CHARGES | - | (7,784 | ) | - | LOSS ON SALE OF PRODUCT LINE DIVESTITURE | (5,092 | ) | - | - | |||||||||||||||||||||
EBITDA | $ | (53,799 | ) | $ | (9,879 | ) | $ | 59,527 | DIRECTOR & OFFICER TRANSITION CHARGES | - | (7,784 | ) | - | |||||||||||||||||
EBITDA | $ | (53,799 | ) | $ | (9,879 | ) | $ | 59,527 | ||||||||||||||||||||||
ADJUSTED EBITDA % | ADJUSTED EBITDA % | |||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | 23.4 | % | 20.1 | % | 20.2 | % | INDUSTRIAL SEGMENT | 25.3 | % | 24.7 | % | 23.7 | % | |||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 7.5 | % | 6.4 | % | 8.2 | % | ENERGY SEGMENT | 15.2 | % | 5.4 | % | 9.5 | % | |||||||||||||||||
ADJUSTED EBITDA % | 13.3 | % | 11.1 | % | 12.3 | % | ENGINEERED SOLUTIONS SEGMENT | 7.3 | % | 8.6 | % | 8.8 | % | |||||||||||||||||
ADJUSTED EBITDA % | 13.3 | % | 11.1 | % | 12.3 | % | ||||||||||||||||||||||||
DEPRECIATION & AMORTIZATION | DEPRECIATION & AMORTIZATION | |||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 14,999 | $ | 15,026 | $ | 15,301 | INDUSTRIAL SEGMENT | $ | 8,175 | $ | 7,583 | $ | 7,710 | |||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 31,030 | 26,072 | 23,423 | ENERGY SEGMENT | 21,944 | 18,943 | 16,652 | |||||||||||||||||||||||
CORPORATE / GENERAL | 1,748 | 2,012 | 1,984 | ENGINEERED SOLUTIONS SEGMENT | 15,910 | 14,572 | 14,362 | |||||||||||||||||||||||
TOTAL DEPRECIATION & AMORTIZATION | $ | 47,777 | $ | 43,110 | $ | 40,708 | CORPORATE / GENERAL | 1,748 | 2,012 | 1,984 | ||||||||||||||||||||
TOTAL DEPRECIATION & AMORTIZATION | $ | 47,777 | $ | 43,110 | $ | 40,708 |
ACTUANT CORPORATION | ||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
NET SALES BY PRODUCT LINE | ||||||||||||||||||||||||
NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||
FISCAL | FISCAL | FISCAL | FISCAL | FISCAL | FISCAL | |||||||||||||||||||
2016 | 2017 | 2018 | 2016 | 2017 | 2018 | |||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | INDUSTRIAL SEGMENT | |||||||||||||||||||||||
PRODUCT | $ | 400,780 | $ | 396,381 | $ | 439,405 | INDUSTRIAL TOOLS | $ | 314,832 | $ | 335,569 | $ | 369,546 | |||||||||||
SERVICE & RENTAL | 187,427 | 156,201 | 151,680 | HEAVY LIFTING TECHNOLOGY | 44,985 | 44,186 | 46,351 | |||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | ENERGY SEGMENT | |||||||||||||||||||||||
ON-HIGHWAY | 209,575 | 215,831 | 248,083 | ENERGY MAINTENANCE & INTEGRITY | 278,881 | 225,716 | 224,386 | |||||||||||||||||
AGRICULTURE, OFF-HIGHWAY AND OTHER | 187,287 | 190,604 | 215,487 | OTHER ENERGY SOLUTIONS | 113,850 | 83,878 | 78,758 | |||||||||||||||||
ROPE & CABLE SOLUTIONS | 73,813 | 65,169 | 76,011 | |||||||||||||||||||||
CONCRETE TENSIONING | 50,491 | 52,889 | 49,198 | ENGINEERED SOLUTIONS SEGMENT | ||||||||||||||||||||
OFF-SHORE MOORING | 40,037 | 18,709 | 2,747 | ON-HIGHWAY | 209,575 | 215,831 | 248,083 | |||||||||||||||||
AGRICULTURE, OFF-HIGHWAY AND OTHER | 187,287 | 190,604 | 215,487 | |||||||||||||||||||||
TOTAL | $ | 1,149,410 | $ | 1,095,784 | $ | 1,182,611 | ||||||||||||||||||
TOTAL | $ | 1,149,410 | $ | 1,095,784 | $ | 1,182,611 |
ACTUANT CORPORATION | ||||||||||||||||||||||||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||
RESULTS BY REPORTING SEGMENT | ||||||||||||||||||||||||||||||||||||||||||||||
NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||||||||||||||||
FISCAL 2016 | FISCAL 2016 | |||||||||||||||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||||||||||||||||||||||
SALES | SALES | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 154,500 | $ | 128,811 | $ | 156,210 | $ | 148,686 | $ | 588,207 | INDUSTRIAL SEGMENT | $ | 88,870 | $ | 81,188 | $ | 95,750 | $ | 94,009 | $ | 359,817 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 150,511 | 134,478 | 149,131 | 127,083 | 561,203 | ENERGY SEGMENT | 113,764 | 86,225 | 101,300 | 91,442 | 392,731 | |||||||||||||||||||||||||||||||||||
TOTAL | $ | 305,011 | $ | 263,289 | $ | 305,341 | $ | 275,769 | $ | 1,149,410 | ENGINEERED SOLUTIONS SEGMENT | 102,377 | 95,876 | 108,291 | 90,318 | 396,862 | ||||||||||||||||||||||||||||||
TOTAL | $ | 305,011 | $ | 263,289 | $ | 305,341 | $ | 275,769 | $ | 1,149,410 | ||||||||||||||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | OPERATING PROFIT (LOSS) | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 32,390 | $ | 23,938 | $ | 35,420 | $ | 32,061 | $ | 123,809 | INDUSTRIAL SEGMENT | $ | 21,263 | $ | 17,003 | $ | 22,519 | $ | 22,144 | $ | 82,929 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 5,934 | 968 | 4,320 | (49 | ) | 11,173 | ENERGY SEGMENT | 12,124 | 5,348 | 12,438 | 8,941 | 38,851 | ||||||||||||||||||||||||||||||||||
CORPORATE / GENERAL | (8,573 | ) | (6,928 | ) | (7,901 | ) | (5,623 | ) | (29,025 | ) | ENGINEERED SOLUTIONS SEGMENT | 4,937 | 2,555 | 4,768 | 927 | 13,187 | ||||||||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT | $ | 29,751 | $ | 17,978 | $ | 31,839 | $ | 26,389 | $ | 105,957 | CORPORATE / GENERAL | (8,573 | ) | (6,928 | ) | (7,886 | ) | (5,623 | ) | (29,010 | ) | |||||||||||||||||||||||||
IMPAIRMENT & DIVESTITURE CHARGES | - | (186,511 | ) | - | - | (186,511 | ) | ADJUSTED OPERATING PROFIT | $ | 29,751 | $ | 17,978 | $ | 31,839 | $ | 26,389 | $ | 105,957 | ||||||||||||||||||||||||||||
RESTRUCTURING CHARGES | (4,380 | ) | (3,582 | ) | (3,496 | ) | (3,113 | ) | (14,571 | ) | IMPAIRMENT & DIVESTITURE CHARGES | - | (186,511 | ) | - | - | (186,511 | ) | ||||||||||||||||||||||||||||
LOSS ON SALE OF PRODUCT LINE DIVESTITURE | - | - | - | (5,092 | ) | (5,092 | ) | RESTRUCTURING CHARGES | (4,380 | ) | (3,582 | ) | (3,496 | ) | (3,113 | ) | (14,571 | ) | ||||||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | $ | 25,371 | $ | (172,115 | ) | $ | 28,343 | $ | 18,184 | $ | (100,217 | ) | LOSS ON SALE OF PRODUCT LINE DIVESTITURE | - | - | - | (5,092 | ) | (5,092 | ) | ||||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | $ | 25,371 | $ | (172,115 | ) | $ | 28,343 | $ | 18,184 | $ | (100,217 | ) | ||||||||||||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | ADJUSTED OPERATING PROFIT % | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | 21.0 | % | 18.6 | % | 22.7 | % | 21.6 | % | 21.0 | % | INDUSTRIAL SEGMENT | 23.9 | % | 20.9 | % | 23.5 | % | 23.6 | % | 23.0 | % | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 3.9 | % | 0.7 | % | 2.9 | % | 0.0 | % | 2.0 | % | ENERGY SEGMENT | 10.7 | % | 6.2 | % | 12.3 | % | 9.8 | % | 9.9 | % | |||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | 9.8 | % | 6.8 | % | 10.4 | % | 9.6 | % | 9.2 | % | ENGINEERED SOLUTIONS SEGMENT | 4.8 | % | 2.7 | % | 4.4 | % | 1.0 | % | 3.3 | % | |||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | 9.8 | % | 6.8 | % | 10.4 | % | 9.6 | % | 9.2 | % | ||||||||||||||||||||||||||||||||||||
EBITDA | EBITDA | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 35,766 | $ | 27,131 | $ | 39,101 | $ | 35,925 | $ | 137,923 | INDUSTRIAL SEGMENT | $ | 22,959 | $ | 18,829 | $ | 24,686 | $ | 24,384 | $ | 90,858 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 13,482 | 9,863 | 11,210 | 7,537 | 42,092 | ENERGY SEGMENT | 18,348 | 10,968 | 16,819 | 13,717 | 59,852 | |||||||||||||||||||||||||||||||||||
CORPORATE / GENERAL | (7,644 | ) | (6,867 | ) | (7,862 | ) | (5,267 | ) | (27,640 | ) | ENGINEERED SOLUTIONS SEGMENT | 8,498 | 6,882 | 8,504 | 5,270 | 29,154 | ||||||||||||||||||||||||||||||
ADJUSTED EBITDA | $ | 41,604 | $ | 30,127 | $ | 42,449 | $ | 38,195 | $ | 152,375 | CORPORATE / GENERAL | (8,201 | ) | (6,552 | ) | (7,560 | ) | (5,176 | ) | (27,489 | ) | |||||||||||||||||||||||||
IMPAIRMENT & DIVESTITURE CHARGES | - | (186,511 | ) | - | - | (186,511 | ) | ADJUSTED EBITDA | $ | 41,604 | $ | 30,127 | $ | 42,449 | $ | 38,195 | $ | 152,375 | ||||||||||||||||||||||||||||
RESTRUCTURING CHARGES | (4,380 | ) | (3,582 | ) | (3,496 | ) | (3,113 | ) | (14,571 | ) | IMPAIRMENT & DIVESTITURE CHARGES | - | (186,511 | ) | - | - | (186,511 | ) | ||||||||||||||||||||||||||||
LOSS ON SALE OF PRODUCT LINE DIVESTITURE | - | - | - | (5,092 | ) | (5,092 | ) | RESTRUCTURING CHARGES | (4,380 | ) | (3,582 | ) | (3,496 | ) | (3,113 | ) | (14,571 | ) | ||||||||||||||||||||||||||||
EBITDA | $ | 37,224 | $ | (159,966 | ) | $ | 38,953 | $ | 29,990 | $ | (53,799 | ) | LOSS ON SALE OF PRODUCT LINE DIVESTITURE | - | - | - | (5,092 | ) | (5,092 | ) | ||||||||||||||||||||||||||
EBITDA | $ | 37,224 | $ | (159,966 | ) | $ | 38,953 | $ | 29,990 | $ | (53,799 | ) | ||||||||||||||||||||||||||||||||||
ADJUSTED EBITDA % | ADJUSTED EBITDA % | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | 23.1 | % | 21.1 | % | 25.0 | % | 24.2 | % | 23.4 | % | INDUSTRIAL SEGMENT | 25.8 | % | 23.2 | % | 25.8 | % | 25.9 | % | 25.3 | % | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 9.0 | % | 7.3 | % | 7.5 | % | 5.9 | % | 7.5 | % | ENERGY SEGMENT | 16.1 | % | 12.7 | % | 16.6 | % | 15.0 | % | 15.2 | % | |||||||||||||||||||||||||
ADJUSTED EBITDA % | 13.6 | % | 11.4 | % | 13.9 | % | 13.9 | % | 13.3 | % | ENGINEERED SOLUTIONS SEGMENT | 8.3 | % | 7.2 | % | 7.9 | % | 5.8 | % | 7.3 | % | |||||||||||||||||||||||||
ADJUSTED EBITDA % | 13.6 | % | 11.4 | % | 13.9 | % | 13.9 | % | 13.3 | % | ||||||||||||||||||||||||||||||||||||
NOTE: The total of the individual quarters may not equal the annual total due to rounding |
ACTUANT CORPORATION | ||||||||||||||||||||||||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||
RESULTS BY REPORTING SEGMENT | ||||||||||||||||||||||||||||||||||||||||||||||
NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||||||||||||||||
FISCAL 2017 | FISCAL 2017 | |||||||||||||||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||||||||||||||||||||||
SALES | SALES | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 138,628 | $ | 130,166 | $ | 147,224 | $ | 136,564 | $ | 552,582 | INDUSTRIAL SEGMENT | $ | 87,290 | $ | 91,648 | $ | 100,503 | $ | 100,314 | $ | 379,755 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 127,165 | 128,703 | 148,203 | 139,131 | 543,202 | ENERGY SEGMENT | 84,646 | 72,884 | 83,480 | 68,584 | 309,594 | |||||||||||||||||||||||||||||||||||
TOTAL | $ | 265,793 | $ | 258,869 | $ | 295,427 | $ | 275,695 | $ | 1,095,784 | ENGINEERED SOLUTIONS SEGMENT | 93,857 | 94,337 | 111,444 | 106,797 | 406,435 | ||||||||||||||||||||||||||||||
TOTAL | $ | 265,793 | $ | 258,869 | $ | 295,427 | $ | 275,695 | $ | 1,095,784 | ||||||||||||||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | OPERATING PROFIT (LOSS) | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 27,090 | $ | 21,583 | $ | 27,550 | $ | 22,154 | $ | 98,377 | INDUSTRIAL SEGMENT | $ | 19,491 | $ | 19,037 | $ | 24,019 | $ | 24,076 | $ | 86,623 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | (1,436 | ) | 89 | 5,539 | 4,309 | 8,501 | ENERGY SEGMENT | 3,328 | (647 | ) | 895 | (3,675 | ) | (99 | ) | |||||||||||||||||||||||||||||||
CORPORATE / GENERAL | (6,451 | ) | (6,372 | ) | (5,373 | ) | (6,928 | ) | (25,123 | ) | ENGINEERED SOLUTIONS SEGMENT | 2,834 | 3,282 | 8,174 | 6,069 | 20,359 | ||||||||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT | $ | 19,203 | $ | 15,300 | $ | 27,716 | $ | 19,535 | $ | 81,755 | CORPORATE / GENERAL | (6,450 | ) | (6,372 | ) | (5,372 | ) | (6,935 | ) | (25,128 | ) | |||||||||||||||||||||||||
IMPAIRMENT & DIVESTITURE CHARGES | - | - | - | (116,979 | ) | (116,979 | ) | ADJUSTED OPERATING PROFIT | $ | 19,203 | $ | 15,300 | $ | 27,716 | $ | 19,535 | $ | 81,755 | ||||||||||||||||||||||||||||
RESTRUCTURING CHARGES | (2,948 | ) | (2,101 | ) | (384 | ) | (1,795 | ) | (7,228 | ) | IMPAIRMENT & DIVESTITURE CHARGES | - | - | - | (116,979 | ) | (116,979 | ) | ||||||||||||||||||||||||||||
DIRECTOR & OFFICER TRANSITION CHARGES | (7,784 | ) | - | - | - | (7,784 | ) | RESTRUCTURING CHARGES | (2,948 | ) | (2,101 | ) | (384 | ) | (1,795 | ) | (7,228 | ) | ||||||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | $ | 8,471 | $ | 13,199 | $ | 27,332 | $ | (99,239 | ) | $ | (50,236 | ) | DIRECTOR & OFFICER TRANSITION CHARGES | (7,784 | ) | - | - | - | (7,784 | ) | ||||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | $ | 8,471 | $ | 13,199 | $ | 27,332 | $ | (99,239 | ) | $ | (50,236 | ) | ||||||||||||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | ADJUSTED OPERATING PROFIT % | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | 19.5 | % | 16.6 | % | 18.7 | % | 16.2 | % | 17.8 | % | INDUSTRIAL SEGMENT | 22.3 | % | 20.8 | % | 23.9 | % | 24.0 | % | 22.8 | % | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | -1.1 | % | 0.1 | % | 3.7 | % | 3.1 | % | 1.6 | % | ENERGY SEGMENT | 3.9 | % | -0.9 | % | 1.1 | % | -5.4 | % | 0.0 | % | |||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | 7.2 | % | 5.9 | % | 9.4 | % | 7.1 | % | 7.5 | % | ENGINEERED SOLUTIONS SEGMENT | 3.0 | % | 3.5 | % | 7.3 | % | 5.7 | % | 5.0 | % | |||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | 7.2 | % | 5.9 | % | 9.4 | % | 7.1 | % | 7.5 | % | ||||||||||||||||||||||||||||||||||||
EBITDA | EBITDA | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 31,571 | $ | 24,439 | $ | 30,103 | $ | 24,984 | $ | 111,097 | INDUSTRIAL SEGMENT | $ | 21,217 | $ | 21,064 | $ | 25,575 | $ | 25,851 | $ | 93,707 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 4,608 | 6,832 | 12,402 | 11,069 | 34,911 | ENERGY SEGMENT | 9,108 | 2,943 | 4,633 | 142 | 16,826 | |||||||||||||||||||||||||||||||||||
CORPORATE / GENERAL | (5,452 | ) | (5,833 | ) | (5,449 | ) | (7,163 | ) | (23,896 | ) | ENGINEERED SOLUTIONS SEGMENT | 6,281 | 7,277 | 11,716 | 9,533 | 34,807 | ||||||||||||||||||||||||||||||
ADJUSTED EBITDA | $ | 30,727 | $ | 25,438 | $ | 37,056 | $ | 28,890 | $ | 122,112 | CORPORATE / GENERAL | (5,879 | ) | (5,846 | ) | (4,868 | ) | (6,636 | ) | (23,228 | ) | |||||||||||||||||||||||||
IMPAIRMENT & DIVESTITURE CHARGES | - | - | - | (116,979 | ) | (116,979 | ) | ADJUSTED EBITDA | $ | 30,727 | $ | 25,438 | $ | 37,056 | $ | 28,890 | $ | 122,112 | ||||||||||||||||||||||||||||
RESTRUCTURING CHARGES | (2,948 | ) | (2,101 | ) | (384 | ) | (1,795 | ) | (7,228 | ) | IMPAIRMENT & DIVESTITURE CHARGES | - | - | - | (116,979 | ) | (116,979 | ) | ||||||||||||||||||||||||||||
DIRECTOR & OFFICER TRANSITION CHARGES | (7,784 | ) | - | - | - | (7,784 | ) | RESTRUCTURING CHARGES | (2,948 | ) | (2,101 | ) | (384 | ) | (1,795 | ) | (7,228 | ) | ||||||||||||||||||||||||||||
EBITDA | $ | 19,995 | $ | 23,337 | $ | 36,672 | $ | (89,884 | ) | $ | (9,879 | ) | DIRECTOR & OFFICER TRANSITION CHARGES | (7,784 | ) | - | - | - | (7,784 | ) | ||||||||||||||||||||||||||
EBITDA | $ | 19,995 | $ | 23,337 | $ | 36,672 | $ | (89,884 | ) | $ | (9,879 | ) | ||||||||||||||||||||||||||||||||||
ADJUSTED EBITDA % | ADJUSTED EBITDA % | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | 22.8 | % | 18.8 | % | 20.4 | % | 18.3 | % | 20.1 | % | INDUSTRIAL SEGMENT | 24.3 | % | 23.0 | % | 25.4 | % | 25.8 | % | 24.7 | % | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 3.6 | % | 5.3 | % | 8.4 | % | 8.0 | % | 6.4 | % | ENERGY SEGMENT | 10.8 | % | 4.0 | % | 5.5 | % | 0.2 | % | 5.4 | % | |||||||||||||||||||||||||
ADJUSTED EBITDA % | 11.6 | % | 9.8 | % | 12.5 | % | 10.5 | % | 11.1 | % | ENGINEERED SOLUTIONS SEGMENT | 6.7 | % | 7.7 | % | 10.5 | % | 8.9 | % | 8.6 | % | |||||||||||||||||||||||||
ADJUSTED EBITDA % | 11.6 | % | 9.8 | % | 12.5 | % | 10.5 | % | 11.1 | % | ||||||||||||||||||||||||||||||||||||
NOTE: The total of the individual quarters may not equal the annual total due to rounding |
ACTUANT CORPORATION | ||||||||||||||||||||||||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||
RESULTS BY REPORTING SEGMENT | ||||||||||||||||||||||||||||||||||||||||||||||
NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||||||||||||||||
FISCAL 2018 | FISCAL 2018 | |||||||||||||||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||||||||||||||||||||||
SALES | SALES | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 141,991 | $ | 136,986 | $ | 158,735 | $ | 153,373 | $ | 591,085 | INDUSTRIAL SEGMENT | $ | 96,916 | $ | 99,081 | $ | 108,297 | $ | 111,603 | $ | 415,897 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 146,964 | 138,179 | 158,361 | 148,022 | 591,526 | ENERGY SEGMENT | 75,841 | 65,992 | 83,857 | 77,454 | 303,144 | |||||||||||||||||||||||||||||||||||
TOTAL | $ | 288,955 | $ | 275,165 | $ | 317,096 | $ | 301,395 | $ | 1,182,611 | ENGINEERED SOLUTIONS SEGMENT | 116,198 | 110,092 | 124,942 | 112,338 | 463,570 | ||||||||||||||||||||||||||||||
TOTAL | $ | 288,955 | $ | 275,165 | $ | 317,096 | $ | 301,395 | $ | 1,182,611 | ||||||||||||||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | OPERATING PROFIT (LOSS) | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 22,218 | $ | 20,510 | $ | 32,206 | $ | 28,783 | $ | 103,718 | INDUSTRIAL SEGMENT | $ | 19,482 | $ | 18,493 | $ | 25,845 | $ | 26,576 | $ | 90,396 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 5,107 | 1,177 | 9,714 | 8,789 | 24,787 | ENERGY SEGMENT | 1,224 | 747 | 7,033 | 3,336 | 12,340 | |||||||||||||||||||||||||||||||||||
CORPORATE / GENERAL | (6,023 | ) | (4,827 | ) | (8,149 | ) | (5,404 | ) | (24,404 | ) | ENGINEERED SOLUTIONS SEGMENT | 6,618 | 2,409 | 9,039 | 7,633 | 25,698 | ||||||||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT | $ | 21,302 | $ | 16,860 | $ | 33,771 | $ | 32,168 | $ | 104,101 | CORPORATE / GENERAL | (6,022 | ) | (4,789 | ) | (8,146 | ) | (5,377 | ) | (24,333 | ) | |||||||||||||||||||||||||
IMPAIRMENT & DIVESTITURE CHARGES | - | (2,987 | ) | - | (70,071 | ) | (73,058 | ) | ADJUSTED OPERATING PROFIT | $ | 21,302 | $ | 16,860 | $ | 33,771 | $ | 32,168 | $ | 104,101 | |||||||||||||||||||||||||||
RESTRUCTURING CHARGES | (6,629 | ) | (4,284 | ) | (1,186 | ) | (746 | ) | (12,845 | ) | IMPAIRMENT & DIVESTITURE CHARGES | - | (2,987 | ) | - | (70,071 | ) | (73,058 | ) | |||||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | $ | 14,673 | $ | 9,589 | $ | 32,585 | $ | (38,649 | ) | $ | 18,198 | RESTRUCTURING CHARGES | (6,629 | ) | (4,284 | ) | (1,186 | ) | (746 | ) | (12,845 | ) | ||||||||||||||||||||||||
OPERATING PROFIT (LOSS) | $ | 14,673 | $ | 9,589 | $ | 32,585 | $ | (38,649 | ) | $ | 18,198 | |||||||||||||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | ADJUSTED OPERATING PROFIT % | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | 15.6 | % | 15.0 | % | 20.3 | % | 18.8 | % | 17.5 | % | INDUSTRIAL SEGMENT | 20.1 | % | 18.7 | % | 23.9 | % | 23.8 | % | 21.7 | % | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 3.5 | % | 0.9 | % | 6.1 | % | 5.9 | % | 4.2 | % | ENERGY SEGMENT | 1.6 | % | 1.1 | % | 8.4 | % | 4.3 | % | 4.1 | % | |||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | 7.4 | % | 6.1 | % | 10.7 | % | 10.7 | % | 8.8 | % | ENGINEERED SOLUTIONS SEGMENT | 5.7 | % | 2.2 | % | 7.2 | % | 6.8 | % | 5.5 | % | |||||||||||||||||||||||||
ADJUSTED OPERATING PROFIT % | 7.4 | % | 6.1 | % | 10.7 | % | 10.7 | % | 8.8 | % | ||||||||||||||||||||||||||||||||||||
EBITDA | EBITDA | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | $ | 25,567 | $ | 24,594 | $ | 36,394 | $ | 32,763 | $ | 119,318 | INDUSTRIAL SEGMENT | $ | 21,202 | $ | 21,034 | $ | 27,823 | $ | 28,312 | $ | 98,371 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 11,004 | 7,267 | 15,093 | 15,114 | 48,478 | ENERGY SEGMENT | 5,125 | 4,533 | 11,554 | 7,726 | 28,938 | |||||||||||||||||||||||||||||||||||
CORPORATE / GENERAL | (5,508 | ) | (5,073 | ) | (7,113 | ) | (4,672 | ) | (22,366 | ) | ENGINEERED SOLUTIONS SEGMENT | 10,254 | 6,020 | 12,566 | 11,779 | 40,619 | ||||||||||||||||||||||||||||||
ADJUSTED EBITDA | $ | 31,063 | $ | 26,788 | $ | 44,374 | $ | 43,205 | $ | 145,430 | CORPORATE / GENERAL | (5,518 | ) | (4,799 | ) | (7,569 | ) | (4,612 | ) | (22,498 | ) | |||||||||||||||||||||||||
IMPAIRMENT & DIVESTITURE CHARGES | - | (2,987 | ) | - | (70,071 | ) | (73,058 | ) | ADJUSTED EBITDA | $ | 31,063 | $ | 26,788 | $ | 44,374 | $ | 43,205 | $ | 145,430 | |||||||||||||||||||||||||||
RESTRUCTURING CHARGES | (6,629 | ) | (4,284 | ) | (1,186 | ) | (746 | ) | (12,845 | ) | IMPAIRMENT & DIVESTITURE CHARGES | - | (2,987 | ) | - | (70,071 | ) | (73,058 | ) | |||||||||||||||||||||||||||
EBITDA | $ | 24,434 | $ | 19,517 | $ | 43,188 | $ | (27,612 | ) | $ | 59,527 | RESTRUCTURING CHARGES | (6,629 | ) | (4,284 | ) | (1,186 | ) | (746 | ) | (12,845 | ) | ||||||||||||||||||||||||
EBITDA | $ | 24,434 | $ | 19,517 | $ | 43,188 | $ | (27,612 | ) | $ | 59,527 | |||||||||||||||||||||||||||||||||||
ADJUSTED EBITDA % | ADJUSTED EBITDA % | |||||||||||||||||||||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | 18.0 | % | 18.0 | % | 22.9 | % | 21.4 | % | 20.2 | % | INDUSTRIAL SEGMENT | 21.9 | % | 21.2 | % | 25.7 | % | 25.4 | % | 23.7 | % | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | 7.5 | % | 5.3 | % | 9.5 | % | 10.2 | % | 8.2 | % | ENERGY SEGMENT | 6.8 | % | 6.9 | % | 13.8 | % | 10.0 | % | 9.5 | % | |||||||||||||||||||||||||
ADJUSTED EBITDA % | 10.8 | % | 9.7 | % | 14.0 | % | 14.3 | % | 12.3 | % | ENGINEERED SOLUTIONS SEGMENT | 8.8 | % | 5.5 | % | 10.1 | % | 10.5 | % | 8.8 | % | |||||||||||||||||||||||||
ADJUSTED EBITDA % | 10.8 | % | 9.7 | % | 14.0 | % | 14.3 | % | 12.3 | % | ||||||||||||||||||||||||||||||||||||
NOTE: The total of the individual quarters may not equal the annual total due to rounding |
ACTUANT CORPORATION | ||||||||||||||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
NET SALES BY PRODUCT LINE | ||||||||||||||||||||||||||||||||||||
NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||||||
FISCAL 2016 | FISCAL 2016 | |||||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | INDUSTRIAL SEGMENT | |||||||||||||||||||||||||||||||||||
PRODUCT | $ | 92,975 | $ | 90,362 | $ | 109,490 | $ | 107,953 | $ | 400,780 | INDUSTRIAL TOOLS | $ | 79,733 | $ | 72,095 | $ | 81,770 | $ | 81,234 | $ | 314,832 | |||||||||||||||
SERVICE & RENTAL | 61,525 | 38,449 | 46,720 | 40,733 | 187,427 | HEAVY LIFTING TECHNOLOGY | 9,137 | 9,093 | 13,980 | 12,775 | 44,985 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | ENERGY SEGMENT | |||||||||||||||||||||||||||||||||||
ON-HIGHWAY | 54,075 | 49,434 | 58,440 | 47,626 | 209,575 | ENERGY MAINTENANCE & INTEGRITY | 78,835 | 58,551 | 73,377 | 68,118 | 278,881 | |||||||||||||||||||||||||
AGRICULTURE, OFF-HIGHWAY AND OTHER | 48,302 | 46,442 | 49,851 | 42,692 | 187,287 | OTHER ENERGY SOLUTIONS | 34,929 | 27,674 | 27,923 | 23,324 | 113,850 | |||||||||||||||||||||||||
ROPE & CABLE SOLUTIONS | 22,391 | 15,938 | 18,231 | 17,253 | 73,813 | |||||||||||||||||||||||||||||||
CONCRETE TENSIONING | 13,205 | 10,928 | 12,917 | 13,441 | 50,491 | ENGINEERED SOLUTIONS SEGMENT | ||||||||||||||||||||||||||||||
OFF-SHORE MOORING | 12,538 | 11,736 | 9,692 | 6,071 | 40,037 | ON-HIGHWAY | 54,075 | 49,434 | 58,440 | 47,626 | 209,575 | |||||||||||||||||||||||||
AGRICULTURE, OFF-HIGHWAY AND OTHER | 48,302 | 46,442 | 49,851 | 42,692 | 187,287 | |||||||||||||||||||||||||||||||
TOTAL | $ | 305,011 | $ | 263,289 | $ | 305,341 | $ | 275,769 | $ | 1,149,410 | ||||||||||||||||||||||||||
TOTAL | $ | 305,011 | $ | 263,289 | $ | 305,341 | $ | 275,769 | $ | 1,149,410 | ||||||||||||||||||||||||||
NOTE: The total of the individual quarters may not equal the annual total due to rounding |
ACTUANT CORPORATION | ||||||||||||||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
NET SALES BY PRODUCT LINE | ||||||||||||||||||||||||||||||||||||
NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||||||||||||
FISCAL 2017 | FISCAL 2017 | |||||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | INDUSTRIAL SEGMENT | |||||||||||||||||||||||||||||||||||
PRODUCT | $ | 93,415 | $ | 94,406 | $ | 105,615 | $ | 102,945 | $ | 396,381 | INDUSTRIAL TOOLS | $ | 79,039 | $ | 78,679 | $ | 87,404 | $ | 90,447 | $ | 335,569 | |||||||||||||||
SERVICE & RENTAL | 45,213 | 35,760 | 41,609 | 33,619 | 156,201 | HEAVY LIFTING TECHNOLOGY | 8,251 | 12,969 | 13,099 | 9,867 | 44,186 | |||||||||||||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | ENERGY SEGMENT | |||||||||||||||||||||||||||||||||||
ON-HIGHWAY | 51,630 | 50,611 | 57,710 | 55,880 | 215,831 | ENERGY MAINTENANCE & INTEGRITY | 64,821 | 51,590 | 59,905 | 49,400 | 225,716 | |||||||||||||||||||||||||
AGRICULTURE, OFF-HIGHWAY AND OTHER | 42,227 | 43,726 | 53,734 | 50,917 | 190,604 | OTHER ENERGY SOLUTIONS | 19,825 | 21,294 | 23,575 | 19,184 | 83,878 | |||||||||||||||||||||||||
ROPE & CABLE SOLUTIONS | 14,293 | 15,342 | 19,439 | 16,095 | 65,169 | |||||||||||||||||||||||||||||||
CONCRETE TENSIONING | 13,483 | 13,072 | 13,184 | 13,150 | 52,889 | ENGINEERED SOLUTIONS SEGMENT | ||||||||||||||||||||||||||||||
OFF-SHORE MOORING | 5,532 | 5,952 | 4,136 | 3,089 | 18,709 | ON-HIGHWAY | 51,630 | 50,611 | 57,710 | 55,880 | 215,831 | |||||||||||||||||||||||||
AGRICULTURE, OFF-HIGHWAY AND OTHER | 42,227 | 43,726 | 53,734 | 50,917 | 190,604 | |||||||||||||||||||||||||||||||
TOTAL | $ | 265,793 | $ | 258,869 | $ | 295,427 | $ | 275,695 | $ | 1,095,784 | ||||||||||||||||||||||||||
TOTAL | $ | 265,793 | $ | 258,869 | $ | 295,427 | $ | 275,695 | $ | 1,095,784 | ||||||||||||||||||||||||||
NOTE: The total of the individual quarters may not equal the annual total due to rounding |
ACTUANT CORPORATION | ||||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||
NET SALES BY PRODUCT LINE | ||||||||||||||||||||||||||
NEW REPORTING STRUCTURE | FORMER REPORTING STRUCTURE | |||||||||||||||||||||||||
FISCAL 2018 | FISCAL 2018 | |||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||
INDUSTRIAL TOOLS & SERVICES SEGMENT | INDUSTRIAL SEGMENT | |||||||||||||||||||||||||
PRODUCT | $ 101,120 | $ 105,301 | $ 115,722 | $ 117,262 | $ 439,405 | INDUSTRIAL TOOLS | $ 84,510 | $ 87,438 | $ 98,970 | $ 98,628 | $ 369,546 | |||||||||||||||
SERVICE & RENTAL | 40,871 | 31,685 | 43,013 | 36,111 | 151,680 | HEAVY LIFTING TECHNOLOGY | 12,406 | 11,643 | 9,327 | 12,975 | 46,351 | |||||||||||||||
ENGINEERED COMPONENTS & SYSTEMS SEGMENT | ENERGY SEGMENT | |||||||||||||||||||||||||
ON-HIGHWAY | 64,882 | 59,297 | 66,556 | 57,348 | 248,083 | ENERGY MAINTENANCE & INTEGRITY | 56,710 | 48,889 | 63,421 | 55,366 | 224,386 | |||||||||||||||
AGRICULTURE, OFF-HIGHWAY AND OTHER | 51,316 | 50,795 | 58,386 | 54,990 | 215,487 | OTHER ENERGY SOLUTIONS | 19,131 | 17,103 | 20,436 | 22,088 | 78,758 | |||||||||||||||
ROPE & CABLE SOLUTIONS | 16,386 | 17,101 | 20,436 | 22,088 | 76,011 | |||||||||||||||||||||
CONCRETE TENSIONING | 11,635 | 10,984 | 12,983 | 13,596 | 49,198 | ENGINEERED SOLUTIONS SEGMENT | ||||||||||||||||||||
OFF-SHORE MOORING | 2,745 | 2 | - | - | 2,747 | ON-HIGHWAY | 64,882 | 59,297 | 66,556 | 57,348 | 248,083 | |||||||||||||||
AGRICULTURE, OFF-HIGHWAY AND OTHER | 51,316 | 50,795 | 58,386 | 54,990 | 215,487 | |||||||||||||||||||||
TOTAL | $ 288,955 | $ 275,165 | $ 317,096 | $ 301,395 | $ 1,182,611 | |||||||||||||||||||||
TOTAL | $ 288,955 | $ 275,165 | $ 317,096 | $ 301,395 | $ 1,182,611 | |||||||||||||||||||||
NOTE: The total of the individual quarters may not equal the annual total due to rounding |
ACTUANT CORPORATION | |||||||||||||||||||||||||||||||||||||
SUPPLEMENTAL UNAUDITED DATA | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
FISCAL 2016 | FISCAL 2017 | FISCAL 2018 | |||||||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||||||||||||||||||||
ADJUSTED EBITDA | |||||||||||||||||||||||||||||||||||||
NET EARNINGS (LOSS) (GAAP MEASURE) | $ 15,448 | $ (159,190) | $ 21,166 | $ 17,402 | $ (105,174) | $ 4,965 | $ 5,074 | $ 22,511 | $ (98,764) | $ (66,213) | $ 5,226 | $ (18,221) | $ 29,012 | $ (37,664) | $ (21,648) | ||||||||||||||||||||||
FINANCING COSTS, NET | 7,117 | 6,866 | 7,253 | 7,532 | 28,768 | 7,132 | 7,334 | 7,553 | 7,683 | 29,703 | 7,514 | 7,604 | 7,756 | 8,617 | 31,491 | ||||||||||||||||||||||
INCOME TAX (BENEFIT) EXPENSE | 2,187 | (20,026) | (827) | (6,504) | (25,170) | (2,998) | 200 | (4,029) | (9,651) | (16,478) | 1,604 | 19,839 | (3,995) | (8,472) | 8,976 | ||||||||||||||||||||||
DEPRECIATION & AMORTIZATION | 12,472 | 12,384 | 11,361 | 11,560 | 47,777 | 10,896 | 10,729 | 10,637 | 10,848 | 43,110 | 10,090 | 10,295 | 10,415 | 9,907 | 40,708 | ||||||||||||||||||||||
EBITDA | $ 37,224 | $ (159,966) | $ 38,953 | $ 29,990 | $ (53,799) | $ 19,995 | $ 23,337 | $ 36,672 | $ (89,884) | $ (9,879) | $ 24,434 | $ 19,517 | $ 43,188 | $ (27,612) | $ 59,527 | ||||||||||||||||||||||
IMPAIRMENT & OTHER DIVESTITURE CHARGES | - | 186,511 | - | 186,511 | - | - | - | 116,979 | 116,979 | - | 2,987 | - | 70,071 | 73,058 | |||||||||||||||||||||||
DIRECTOR & OFFICER TRANSITION CHARGES | - | - | - | - | - | 7,784 | - | - | - | 7,784 | - | - | - | - | - | ||||||||||||||||||||||
LOSS ON SANLO PRODUCT LINE DIVESTITURE | - | - | - | 5,092 | 5,092 | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
RESTRUCTURING CHARGES | 4,380 | 3,582 | 3,496 | 3,113 | 14,571 | 2,948 | 2,101 | 384 | 1,795 | 7,228 | 6,629 | 4,284 | 1,186 | 746 | 12,845 | ||||||||||||||||||||||
ADJUSTED EBITDA | $ 41,604 | $ 30,127 | $ 42,449 | $ 38,195 | $ 152,375 | $ 30,727 | $ 25,438 | $ 37,056 | $ 28,890 | $ 122,112 | $ 31,063 | $ 26,788 | $ 44,374 | $ 43,205 | $ 145,430 | ||||||||||||||||||||||
NOTES: | The total of the individual quarters may not equal the annual total due to rounding. | ||||||||||||||||||||||||||||||||||||
EBITDA represents net earnings (loss) before financing costs, net, income tax (benefit) expense, and depreciation & amortization. EBITDA is not a calculation based upon generally accepted accounting principles (GAAP). The amounts included in the EBITDA and Adjusted EBITDA calculation, however, are derived from amounts included in the Condensed Consolidated Statements of Operations. EBITDA should not be considered as an alternative to net earnings (loss), operating profit (loss) or operating cash flows. Actuant has presented EBITDA because it regularly reviews this performance measure. In addition, EBITDA is used by many of our investors and lenders, and is presented as a convenience to them. The EBITDA measure presented may not always be comparable to similarly titled measures reported by other companies due to differences in the components of the calculation. |
CONTACT:
Actuant Corporation
Barb Bolens
VP Corporate Strategy
& Investor Relations
262-293-1562