“BAKER CURB RACING-27-NNS - Rotoworld.com” plus 3 more

BAKER CURB RACING-27-NNS - Rotoworld.com
All-Electric Truck Unveiled on Capitol Hill - Inside Indiana Business
SIRIUS Satellite Radio Canada Adds Top-Rated Sports Talk Shows - CNW Group
Actuant Reports Fourth Quarter Results, Provides Fiscal 2010 Outlook - CNBC

BAKER CURB RACING-27-NNS - Rotoworld.com

Posted: 30 Sep 2009 06:46 PM PDT

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All-Electric Truck Unveiled on Capitol Hill - Inside Indiana Business

Posted: 30 Sep 2009 08:02 AM PDT

Press Release

September 30, 2009

WASHINGTON--Members of Congress today were shown an early result of federal stimulus investments paying dividends an all-electric commercial truck from Navistar, Inc. that does not depend on foreign oil, is already generating jobs, and offers real potential to usher in a new wave of U.S.-led clean vehicle technologies.

With the help of a $39 million U.S. Department of Energy grant announced by President Obama in August, Navistar will build these high technology trucks, designed for maximum efficiency in urban environments. Navistar intends to build 400 all-electric delivery trucks in 2010 at its facility in Elkhart County, Indiana, and expects within a few years to be producing several thousand vehicles annually as the market grows.

At a time when the economy is struggling, supporting breakthrough technologies like Navistars all-electric truck will create jobs for our state and help free us from our dependency on energy imports, said Senator Evan Bayh (D-IN). I was proud to accompany President Obama to Wakarusa, Indiana, in August to announce the federal commitment to build this all-electric vehicle in Elkhart County. Indiana continues to be a leader in the development and production of advanced technologies that will provide important benefits to the entire nation. Hoosiers have been at the epicenter of todays automotive industry, and this technology gives us an opportunity to be at the forefront of tomorrows as well.

The U.S. House of Representatives recently passed legislation allowing for a program of research, development, and commercial application of clean vehicle technologies at DOE (H.R. 3246, Advanced Vehicle Technology Act of 2009). The bill now moves to the Senate for consideration.

The collaboration between Navistar and DOE demonstrates the importance of business and government working together to make energy efficient vehicles a reality, and the continued need for research and development of advanced commercial vehicle technologies.

The all-electric commercial truck is a concrete example of advanced technology that will be swiftly brought to market with government incentives, just like diesel-hybrid trucks and school buses, said Greg Elliott, senior vice president, Navistar. We must continue to invest together for the next generation of advanced vehicles with innovative aerodynamic design and greater hybrid and electric market penetration across the nation.

This zero tailpipe emission electric commercial truck is the latest of Navistars green vehicle advancements. The company was an early pioneer in diesel hybrids with the International DuraStar truck and the IC Bus CE Series plug-in hybrid school bus.

The all-electric vehicle would primarily be used by fleets in congested, urban, light duty applications where stop-and-go driving would otherwise consume a large amount of fuel.

Other Navistar Background

Most Fuel Efficient Heavy Trucks

In addition to all-electric and hybrid-electric trucks and buses, the conventional line-up of International brand commercial trucks is among the most aerodynamic, fuel efficient in the industry. Navistar recently became the first original equipment manufacturer (OEM) to receive dual certification through the U.S. Environmental Protection Agency (EPA) SmartWay Program for helping to reduce greenhouse gas emissions. Navistar produces two industry-leading Class 8 trucks with SmartWay certification International LoneStar and International ProStar a distinction they received for their superior aerodynamics and fuel economy. While the aerodynamic ProStar Class 8 tractor is the market leader in fuel-efficiency, in June 2008, the groundbreaking LoneStar became the first classic-styled Class 8 tractor to receive the SmartWay certification.

Environmental Innovations

For decades, Navistar has demonstrated a commitment to clean technologies that benefit the environment and its customers. In 1989, Navistar was the first OEM to release the smokeless diesel engine and, in 2001, Navistar was the first engine manufacturer to gain certification from the EPA for meeting reduced particulate and hydrocarbon emissions standards six years ahead of schedule. Navistar was also the first to enter line production of commercial diesel hybrid trucks and school buses.

About Navistar

Navistar International Corporation (NYSE:NAV) is a holding company whose subsidiaries and affiliates produce International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.

Source: Navistar

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SIRIUS Satellite Radio Canada Adds Top-Rated Sports Talk Shows - CNW Group

Posted: 30 Sep 2009 07:33 AM PDT

 SIRIUS adds Prime Time Sports and Hockey Central at Noon to daily sports programming on Sports Express // ch. 97

TORONTO , Sept. 30 /CNW/ - SIRIUS Canada , the country's leading satellite radio company, today announced the addition of Hockey Central at Noon and Prime Time Sports - two of the country's top-rated sports talk radio shows - to its Canadian sports channel, "Sports Express" (Ch. 97). With the addition of these programs, originating from THE FAN 590 studios in Toronto , SIRIUS Canada has assembled some of the country's most popular sports radio shows together on a single channel.

"SIRIUS listeners told us that they can't get enough sports news, interviews and opinion from Canadian sportscasters," said Mark Redmond , President and CEO, SIRIUS Canada Inc. "Hockey Central at Noon and Prime Time Sports are two of the country's top rated sports programs and by adding them to the SIRIUS lineup we're creating an one-stop-shop for sports fans featuring some of the best radio personalities around."

SIRIUS subscribers across Canada and the U.S. can now listen to hockey talk show Hockey Central at Noon hosted by Daren Millard , Nick Kypreos, Doug MacLean and Mike Brophy . The show covers the latest breaking news and topics in the world of hockey. Hockey Central airs 12:00pm-2:00pm EDT Monday-Friday on SIRIUS' Sports Express // ch.97.

Bob McCown's Prime Time Sports will also join the SIRIUS Sports Express // Ch. 97 lineup. One of Canada's best-known sportscasters, Bob McCown hosts a popular syndicated daily sports talk show featuring in-depth interviews, analysis and opinion. SIRIUS subscribers can listen to Prime Time Sports at 7:00pm-8:00pm EDT Monday-Friday on Sports Express // ch. 97.

In addition to the newly added Hockey Central at Noon and Prime Time Sports, SIRIUS' Sports Express // ch. 97 features hourly sports news updates and the daily drive-time hockey talk program, Hockey Night in Canada Radio (HNIC Radio). Available exclusively on SIRIUS Satellite Radio, HNIC Radio features marquee interviews, intelligent hockey talk, and breaking news from the world of hockey. Hosted by Jeff Marek , alongside rotating co-hosts Ron MacLean, Kelly Hrudey, Craig Simpson , Elliotte Friedman and Cassie Campbell , HNIC Radio airs from 4:00pm-7:00 p.m. EDT, Monday through Friday.

About SIRIUS Canada

SIRIUS is Canada's number one choice for satellite radio with 120 full-time channels broadcast from studios in Vancouver , Toronto , Montreal and New York. SIRIUS offers 100% commercial-free music plus premium sports, news, talk and entertainment programming from North America's most recognizable and respected personalities and brands. SIRIUS offers listeners unparalleled coast-to-coast signal coverage and digital quality sound broadcast from four high-orbit satellites.

SIRIUS is the Official Satellite Radio Partner of the CFL, NFL, NASCAR and NLL and broadcasts live play-by-play games of the CFL, NFL and NLL. SIRIUS is also the exclusive satellite radio home of CBC's Hockey Night in Canada Radio. In addition, SIRIUS broadcasts live NASCAR races as well as Barclays English Premier League and UEFA Champions League soccer.

SIRIUS products for the car, truck, home, RV and boat are available in more than 3,500 retail locations, including Best Buy, Canadian Tire, Centre Hi-Fi, Costco, Dumoulin, Future Shop, Home Hardware, London Drugs, Staples, The Source, Visions, Wal-Mart and 2001 Audio Video. All SIRIUS programming is available for a monthly subscription fee of only $14.99 .

SIRIUS Canada's automotive partners include Aston Martin, Audi, Bentley, BMW, Chrysler, Dodge, Ford, Jaguar, Jeep, Land Rover, Lexus, Lincoln, Mazda, Mercedes Benz , MINI, Mitsubishi, Pana-Pacific, Subaru, Toyota, Volkswagen, Volvo and the Canadian Automobile Association (CAA). SIRIUS automotive partners make up nearly 60 per cent of light vehicle sales in Canada .

www.sirius.ca

About THE FAN 590

THE FAN 590 is one of 52 AM and FM radio stations owned and operated by Rogers Broadcasting, a division of Rogers Media Inc. In addition to carrying "Hockey Central at Noon" and "Prime Time Sports," THE FAN 590 carries play by play coverage of Toronto's top sports teams and is an official radio station of the Vancouver 2010 Winter Olympics.

For further information: Media Contact: Jeff Roman, SIRIUS Canada, P: (416) 513-7434, E: jroman@siriuscanada.ca

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Actuant Reports Fourth Quarter Results, Provides Fiscal 2010 Outlook - CNBC

Posted: 30 Sep 2009 04:27 AM PDT

MILWAUKEE, Sep 30, 2009 (BUSINESS WIRE) -- Actuant Corporation (NYSE: ATU) today announced sales and earnings for its fourth quarter and fiscal year ended August 31, 2009.

4th Quarter Highlights -- Strong cash flow from operations, totaling approximately $49 million in the quarter and $147 million for the full year.

-- Continued solid execution on restructuring initiatives which will generate permanent reductions to Actuant's cost structure.

-- Year-over-year core sales rate of change stabilization in three of the four segments.

-- Sequential EBITDA margin improvement from the third quarter (excluding restructuring charges) in three of the four segments.

-- Substantially improved net debt position during the fourth quarter, reflecting over $200 million of repayment with $125 million of net proceeds from the Company's June equity offering, $38 million of net proceeds from business divestitures and strong fourth quarter cash flow.

Robert C. Arzbaecher, Chairman and CEO of Actuant commented, "We are pleased to have finished out this challenging fiscal year with strong cash flow, stabilization in the majority of our businesses and continued solid execution on our restructuring actions. Our sales, earnings and earnings per share, adjusted for special items and the equity offering, were in line with our expectations as benefits from cost reduction and restructuring activities were realized.

In addition to cost structure improvements, I am encouraged by Actuant's continued strong working capital management and cash flow generation. Despite terrible economic conditions over the past year, Actuant generated $147 million in operating cash flow in fiscal 2009. We have used this economic crisis as a catalyst for driving our operations to new performance levels which resulted in significant operating and working capital improvements across our businesses globally. I want to thank our leadership team and all employees for capturing and institutionalizing these improvements." Consolidated Results During the fourth quarter, the Company divested Acme Aerospace and BH Electronics. The results of operations for these two businesses, as well as the aggregate net gain on disposition are reported in discontinued operations in the accompanying Condensed Consolidated Statement of Operations. Operating results for all prior periods have been reclassified for comparability.

Consolidated sales for the fourth quarter declined 26% to $290 million compared to $393 million in the fourth quarter of fiscal 2008. Excluding the impact of foreign currency rate changes (-4%) and acquisitions (+5%), core sales (sales excluding the impact of acquisitions, divestitures and currency rate changes) declined 27%. Net earnings and diluted earnings per share ("EPS") in the fiscal 2009 fourth quarter were $16.5 million and $0.24, respectively, compared to net earnings of $34.2 million and EPS of $0.54 in the comparable prior year quarter.

Earnings and EPS from continuing operations were $4.5 million and $0.07, respectively, compared to $33.6 million and $0.53 for the comparable prior year period. Results from continuing operations for the fourth quarter of 2009 included a $2.1 million ($0.02 per diluted share) pre-tax non-cash debt extinguishment charge following the equity offering as well as pre-tax restructuring charges of $9.3 million, or $0.09 per diluted share. Excluding these items, EPS from continuing operations was $0.18 in the fourth quarter of fiscal 2009 compared to $0.53 in the prior year's quarter. (See attached reconciliation of earnings).

Sales for the year ended August 31, 2009 were $1,240 million, 23% lower than the $1,613 million in the prior year. Excluding the impact of the stronger US dollar (-4%) and sales from acquired businesses (+4%), year-to-date core sales decreased 23%. Net earnings for the year ended August 31, 2009 were $13.7 million, or $0.24 per diluted share, compared to fiscal 2008 net earnings of $122.5 million, or $1.93 per diluted share. Earnings and EPS from continuing operations were $23.9 million and $0.40, respectively compared to $119.2 million and $1.88 for the prior year. Fiscal 2009 results from continuing operations included $31.3 million ($0.29 per diluted share) of pre-tax non-cash asset impairment charges, $23.7 million ($0.24 per diluted share) of pre-tax restructuring charges and $1.7 million ($0.02 per diluted share) of pre-tax non-cash debt extinguishment charges. Results for the year ended August 31, 2008 included $10.5 million ($0.16 per diluted share) of pre-tax restructuring charges and a tax benefit of $2.6 million ($0.04 per diluted share). Excluding these items, fiscal 2009 EPS from continuing operations was $0.95, compared to $2.00 for the prior year. (See attached reconciliation of earnings).

Segment Results Industrial Segment (US $ in millions) Three Months Ended Twelve Months Ended August 31, August 31, 2009 2008 2009 2008 Sales $61.8 $98.1 $286.9 $374.5 Operating Profit (1) $13.7 $31.1 $71.4 $113.8 Operating Profit % (1) 22.2% 31.7% 24.9% 30.4% (1) Results for the three and twelve months ended August 31, 2009 exclude restructuring charges of $2.4 million and $3.9 million, respectively.

Fourth quarter fiscal 2009 Industrial segment sales decreased 37% to $62 million. Excluding foreign currency rate changes (-2%), Industrial segment core sales were 35% lower than the comparable prior year period; however, they were approximately level with the third fiscal quarter. The year-over-year sales decline was broad based across the diverse end markets and geographic regions served by this segment. The segment's core sales rate of change stabilized since May 2009. Fourth quarter operating profit margin (excluding restructuring costs) was 22.2%, below the comparable prior year quarter due to lower sales and production as well as unfavorable sales mix.

Energy Segment (US $ in millions) Three Months Ended Twelve Months Ended August 31, August 31, 2009 2008 2009 2008 Sales $63.7 $60.8 $259.5 $212.4 Operating Profit (2) $11.8 $16.3 $45.1 $48.0 Operating Profit % (2) 18.5% 26.7% 17.4% 22.6% (2) Results for the three and twelve months ended August 31, 2009 exclude restructuring charges of $0.7 million and $1.0 million, respectively.

Fiscal 2009 fourth quarter Energy segment sales grew 5% to $64 million.

Acquisitions contributed 25% to sales while the stronger US dollar reduced sales by 9%. Core sales declined 11% due to lower capital project based revenue. While the Company saw certain of its customers defer or reduce maintenance at some oil & gas installations, this important source of Energy segment revenue held up better than exploration or new commissioning related business. Operating profit margin (excluding restructuring costs) declined year-over-year reflecting unfavorable acquisition mix and the lower volumes.

Electrical Segment (US $ in millions) Three Months Ended Twelve Months Ended August 31, August 31, 2009 2008 2009 2008 Sales $87.8 $112.7 $364.2 $496.4 Operating Profit (3) $4.2 $5.1 $15.6 $35.0 Operating Profit % (3) 4.8% 4.5% 4.3% 7.1% (3) Results for the three months ended August 31, 2009 exclude restructuring charges of $3.0 million. Results for the twelve months ended August 31, 2009 exclude a $4.8 million pre-tax non-cash asset impairment charge and $9.8 million of restructuring charges. Results for the twelve months ended August 31, 2008 exclude restructuring charges of $10.5 million.

Electrical segment fiscal 2009 fourth quarter sales declined 22% to $88 million.

The stronger US dollar contributed 3% to the sales decline. Core sales decreased 19% from the prior year reflecting continued weak demand. However, the core revenue year-over-year rate of change improved sequentially from -30% in the third quarter of fiscal 2009 to -19% in the fourth quarter. Sales trends to both the marine aftermarket and DIY channel improved sequentially during the fourth quarter. Fourth quarter operating profit margin (excluding restructuring costs) increased to 4.8%, a 30 basis point improvement from the prior year and 110 basis points sequentially. The increase primarily reflects cost reduction benefits and improved product sales mix.

Engineered Solutions Segment (US $ in millions) Three Months Ended Twelve Months Ended August 31, August 31, 2009 2008 2009 2008 Sales $76.7 $121.8 $329.3 $529.8 Operating Profit (4) $0.3 $11.3 $6.5 $50.6 Operating Profit % (4) 0.4% 9.3% 2.0% 9.6% (4) Results for the three months ended August 31, 2009 exclude restructuring charges of $3.0 million. Results for the twelve months ended August 31, 2009 exclude a $26.6 million pre-tax non-cash RV asset impairment charge and $8.3 million of restructuring charges.

Fourth quarter fiscal 2009 Engineered Solutions segment sales declined 37% (-37% core, -3% currency translation and +3% acquisitions) reflecting significantly reduced demand from truck and specialty vehicle end markets. While automotive revenues increased sequentially due to new program launches, major global truck OEM's continued to reduce their inventory levels by producing fewer trucks than they sold. Fourth quarter operating margins (excluding restructuring) continue to be negatively impacted by the significant reduction in sales, unfavorable product line sales mix and lower manufacturing overhead absorption.

Corporate Corporate expenses for the fourth quarter of fiscal 2009, excluding restructuring charges of approximately $0.2 million, were $5.0 million compared to $8.5 million in the comparable prior year quarter primarily due to lower incentive compensation expense, salary and headcount reductions and reduced discretionary spending.

Financial Position Net debt at August 31, 2009 was $394 million (total debt of $405 million less $11 million of cash). The Company completed a follow-on equity offering during the quarter, issuing 10.925 million shares for net proceeds of approximately $125 million which were used to reduce indebtedness. In addition, the aforementioned business divestitures generated net proceeds of $38 million, also used to reduce outstanding borrowings. The combination of these items, as well as robust fourth quarter operating cash flow, had a significant impact on the Company's capitalization with $200 million of net debt reduction since May 31, 2009. As of August 31, 2009, the Company had over $350 million of unused revolver capacity.

Outlook Arzbaecher continued, "We begin the new fiscal year with both opportunities and challenges facing Actuant. While the rate of change in sales has stabilized in most of our end markets, we still have difficult year-over-year comparisons ahead of us, most pronounced in the first two fiscal quarters of 2010.

Visibility in our later cycle Energy segment remains challenging as the number of capital projects industry-wide has declined steadily over the past six months. However, with customer inventory destocking moderating and the global economic slowdown approaching its anniversary, our sequential and year-over-year revenues are expected to improve in the second half of fiscal 2010. We also will be realizing additional benefits of restructuring activities in the second half of the fiscal year as most current projects reach completion by mid-year. As we experienced this past year, the biggest variable in our fiscal 2010 results will be the general economy and its impact on revenue. We have assumed an overall fiscal 2010 core sales decline of 3%-8%, driven by continued difficult comparisons in the first half of the fiscal year partially offset by improvements in the second half. Our revenue guidance for fiscal 2010 is $1.15-$1.25 billion. We anticipate diluted EPS for the full year, excluding restructuring costs, to be in the $0.70-$0.95 range. Full year free cash flow is expected to be in the $90-$100 million range, which would result in free cash flow conversion well in excess of 100%. We continue to pursue accretive acquisition opportunities which, when executed, will be incremental to this guidance. Our first quarter fiscal 2010 guidance reflects expected sequential stability with sales in the $280-$300 million range and EPS in the range of $0.12-$0.17 (excluding restructuring charges)." Concluded Arzbaecher, "We are optimistic that over the next twelve months we will begin to see improved business and consumer confidence levels which will benefit Actuant and the broader economy. I continue to be very confident in Actuant's long-term organic and acquisition driven growth prospects. With our strong cash flow and borrowing capacity, we are well positioned to finance these growth opportunities. The fundamentals for our growth strategies are in place, and our people, at all levels, are dedicated and driven to realizing those opportunities." Conference Call Information An investor conference call is scheduled for 10am CT today, September 30, 2009.

Webcast information and conference call materials will be made available on the Actuant company website (www.actuant.com) prior to the start of the call.

Safe Harbor Statement Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995.

Management cautions that these statements are based on current estimates of future performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. Actuant's results are also subject to general economic conditions, variation in demand from customers, the impact of geopolitical activity on the economy, continued market acceptance of the Company's new product introductions, the successful integration of acquisitions, restructuring, operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material and labor cost increases, foreign currency fluctuations and interest rate risk. See the Company's Form 10-K filed with the Securities and Exchange Commission for further information regarding risk factors. Actuant disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or any other reason.

About Actuant Actuant, headquartered in Butler, Wisconsin, is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are market leaders in branded hydraulic and electrical tools and supplies, umbilical, rope and cable solutions and highly engineered position and motion control systems.

The Company employs a workforce of approximately 5,900 worldwide. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its business units, visit the Company's website at www.actuant.com.

(tables follow)

Actuant Corporation

Condensed Consolidated Balance Sheets

(Dollars in thousands)

(Unaudited)

August 31, August 31,

2009 2008

ASSETS

Current assets

Cash and cash equivalents $ 11,385 $ 122,549

Accounts receivable, net 155,520 226,564

Inventories, net 160,656 215,391

Deferred income taxes 20,855 11,870

Other current assets 15,246 16,092

Total current assets 363,662 592,466

Property, plant and equipment, net 129,118 134,550

Goodwill 711,522 639,862

Other intangible assets, net 350,249 292,359

Other long-term assets 13,880 9,145

Total assets $ 1,568,431 $ 1,668,382

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

Short-term borrowings $ 4,964 $ 339

Trade accounts payable 108,333 166,863

Accrued compensation and benefits 30,079 59,023

Income taxes payable 20,578 24,867

Other current liabilities 71,140 60,033

Total current liabilities 235,094 311,125

Long-term debt, less current maturities 400,135 573,818

Deferred income taxes 117,335 99,634

Pension and postretirement benefit accruals 37,662 27,641

Other long-term liabilities 30,835 26,658

Shareholders' equity

Capital stock 13,543 11,200

Additional paid-in capital (188,644 ) (324,898

)

Accumulated other comprehensive (loss) income (24,599 ) 7,149

Stock held in trust (1,766 ) (2,081

)

Deferred compensation liability 1,766 2,081

Retained earnings 947,070 936,055

Total shareholders' equity 747,370 629,506

Total liabilities and shareholders' equity $ 1,568,431 $ 1,668,382

Actuant Corporation

Condensed Consolidated Statements of Operations

(Dollars in thousands except per share amounts)

(Unaudited)

Three Months Ended Twelve Months Ended

August 31, August 31, August 31, August 31,

2009 2008 2009 2008

Net sales $ 290,056 $ 393,470 $ 1,239,798 $ 1,613,190 Cost of products sold 195,476 251,219 825,124 1,052,141

Gross profit 94,580 142,251 414,674 561,049

Selling, administrative and engineering expenses 65,233 83,144 275,751 330,609 Restructuring charges 8,240 - 22,426 10,473 Impairment charges - - 31,321 - Amortization of intangible assets 5,378 3,870 19,724 13,933

Operating profit 15,729 55,237 65,452 206,034

Financing costs, net 10,685 8,887 41,849 36,409 Other (income) expense, net (4 ) (1,412 ) 209 (2,991 )

Earnings from continuing operations before income

tax expense and minority interest 5,048 47,762 23,394 172,616

Income tax expense (benefit) 540 14,182 (474 ) 53,416 Minority interest, net of income taxes (4 ) (2 ) 17 22

Earnings from continuing operations 4,512 33,582 23,851 119,178

Earnings (loss) from discontinued operations,

net of income taxes 12,003 661 (10,128 ) 3,366

Net earnings $ 16,515 $ 34,243 $ 13,723 $ 122,544

Earnings from continuing operations per share

Basic $ 0.07 $ 0.60 $ 0.41 $ 2.14

Diluted 0.07 0.53 0.40 1.88

Earnings per share

Basic $ 0.26 $ 0.61 $ 0.24 $ 2.20

Diluted 0.24 0.54 0.24 1.93

Weighted average common shares outstanding

Basic 63,742 55,953 58,047 55,813

Diluted 71,554 65,011 66,064 64,833

Actuant Corporation

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three Months Ended Twelve Months Ended

August 31, August 31, August 31, August 31,

2009 2008 2009 2008

Operating Activities

Net earnings $ 16,515 $ 34,243 13,723 $ 122,544 Adjustments to reconcile net earnings to net cash provided by

operating activities:

Depreciation and amortization 13,480 11,783 51,978 44,709 Stock-based compensation expense 2,208 1,957 8,609 6,847 Provision (benefit) for deferred income taxes 2,269 (1,078 ) (17,847 ) 5,912 Impairment charges - - 58,274 - Net gain on disposal of businesses (15,831 ) - (15,831 ) - Amortization of debt discount and debt issuance costs 2,870 367 4,531 1,372 (Gain)/Loss on disposal of assets 1,176 (30 ) 1,585 (1,576 ) Changes in operating assets and liabilities, excluding the effects

of the business acquisitions

Accounts receivable 5,230 20,922 87,052 (13,929 ) Accounts receivable securitization program (2,355 ) (8,621 ) (15,837 ) (3,576 ) Inventories 21,231 2,369 57,963 (5,697 ) Prepaid expenses and other assets 252 (1,315 ) 1,075 429 Trade accounts payable 6,091 (7,127 ) (61,932 ) 7,586 Income taxes payable (1,987 ) 702 (9,180 ) (576 ) Other accrued liabilities (2,115 ) (9,267 ) (17,448 ) 6,052 Net cash provided by operating activities 49,034 44,905 146,715 170,097

Investing Activities

Proceeds from sale of property, plant and equipment 1,255 389 1,862 14,065 Capital expenditures (6,436 ) (11,905 ) (21,454 ) (44,407 ) Proceeds from sale of businesses, net of transaction costs 38,455 - 38,455 - Business acquisitions, net of cash acquired (3,500 ) - (239,422 ) (110,109 ) Net cash provided by (used in) investing activities 29,774 (11,516 ) (220,559 ) (140,451 )

Financing Activities

Net (repayments) borrowings on revolving credit facilities and (88,642 ) (1,909 ) 7,557 246 other debt

Proceeds from term loan - - 115,000 - Principal repayments on term loans (113,562 ) (7 ) (270,000 ) (1,015 ) Debt issuance and amendment costs (3,825 ) - (9,158 ) (265 ) Proceeds from equity offering, net of transaction costs 124,781 - 124,781 - Cash dividend - - (2,251 ) (2,221 ) Stock option exercises, related tax benefits, and other 550 3,819 4,024 8,294 Net cash (used in) provided by financing activities (80,698 ) 1,903 (30,047 ) 5,039

Effect of exchange rate changes on cash (17 ) (3,822 ) (7,273 ) 1,184 Net increase (decrease) in cash and cash equivalents (1,907 ) 31,470 (111,164 ) 35,869 Cash and cash equivalents - beginning of period 13,292 91,079 122,549 86,680 Cash and cash equivalents - end of period $ 11,385 $ 122,549 $ 11,385 $ 122,549

ACTUANT CORPORATION

SUPPLEMENTAL UNAUDITED DATA FROM CONTINUING OPERATIONS

(Dollars in thousands)

FISCAL 2008

FISCAL 2009

Q1 Q2 Q3 Q4 TOTAL

Q1 Q2 Q3 Q4 TOTAL SALES

INDUSTRIAL SEGMENT

$ 87,412 $ 87,344 $ 101,593 $ 98,149 $ 374,498

$ 90,524 $ 71,682 $ 62,843 $ 61,802 $ 286,851

ENERGY SEGMENT

49,677 43,458 58,442 60,823 212,400

73,982 59,526 62,251 63,731 259,490

ELECTRICAL SEGMENT

130,130 126,705 126,865 112,745 496,445

102,898 89,719 83,752 87,792 364,161

ENGINEERED SOLUTIONS SEGMENT

133,780 129,403 144,911 121,753 529,847

103,385 72,872 76,308 76,731 329,296

TOTAL

$ 400,999 $ 386,910 $ 431,811 $ 393,470 $ 1,613,190

$ 370,789 $ 293,799 $ 285,154 $ 290,056 $ 1,239,798

% SALES GROWTH

INDUSTRIAL SEGMENT

37 % 33 % 38 % 30 % 34 %

4 % -18 % -38 % -37 % -23 %

ENERGY SEGMENT

24 % 41 % 38 % 29 % 32 %

49 % 37 % 7 % 5 % 22 %

ELECTRICAL SEGMENT

2 % -1 % -5 % -15 % -5 %

-21 % -29 % -34 % -22 % -27 %

ENGINEERED SOLUTIONS SEGMENT

23 % 16 % 10 % -1 % 11 %

-23 % -44 % -47 % -37 % -38 %

TOTAL

18 % 15 % 13 % 4 % 12 %

-8 % -24 % -34 % -26 % -23 %

OPERATING PROFIT (LOSS)

INDUSTRIAL SEGMENT

$ 25,662 $ 25,990 $ 31,054 $ 31,103 $ 113,809

$ 26,107 $ 15,972 $ 15,597 $ 13,692 $ 71,368

ENERGY SEGMENT

12,314 6,767 12,638 16,266 47,985

15,647 5,895 11,772 11,801 45,115

ELECTRICAL SEGMENT

10,299 11,044 8,546 5,121 35,010

5,896 2,404 3,119 4,213 15,632

ENGINEERED SOLUTIONS SEGMENT

12,707 10,485 16,125 11,296 50,613

7,865 (2,735 ) 991 342 6,463

CORPORATE / GENERAL

(6,415 ) (7,743 ) (8,203 ) (8,549 ) (30,910 )

(3,197 ) (5,013 ) (4,815 ) (5,042 ) (18,066 )

TOTAL - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES

$ 54,567 $ 46,543 $ 60,160 $ 55,237 $ 216,507

$ 52,318 $ 16,523 $ 26,664 $ 25,006 $ 120,512

IMPAIRMENT CHARGES

- - - - -

(26,553 ) - (4,768 ) - (31,321 )

RESTRUCTURING CHARGES (1)

(5,521 ) (4,952 ) - - (10,473 )

(674 ) (3,039 ) (10,749 ) (9,277 ) (23,739 )

TOTAL

$ 49,046 $ 41,591 $ 60,160 $ 55,237 $ 206,034

$ 25,091 $ 13,484 $ 11,147 $ 15,729 $ 65,452

OPERATING PROFIT %

INDUSTRIAL SEGMENT

29.4 % 29.8 % 30.6 % 31.7 % 30.4 %

28.8 % 22.3 % 24.8 % 22.2 % 24.9 %

ENERGY SEGMENT

24.8 % 15.6 % 21.6 % 26.7 % 22.6 %

21.1 % 9.9 % 18.9 % 18.5 % 17.4 %

ELECTRICAL SEGMENT

7.9 % 8.7 % 6.7 % 4.5 % 7.1 %

5.7 % 2.7 % 3.7 % 4.8 % 4.3 %

ENGINEERED SOLUTIONS SEGMENT

9.5 % 8.1 % 11.1 % 9.3 % 9.6 %

7.6 % -3.8 % 1.3 % 0.4 % 2.0 %

TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING 13.6 % 12.0 % 13.9 % 14.0 % 13.4

% 14.1 % 5.6 % 9.4 % 8.6 % 9.7 %

CHARGES

EBITDA

INDUSTRIAL SEGMENT

$ 28,017 $ 27,840 $ 32,617 $ 32,599 $ 121,073

$ 27,139 $ 17,058 $ 18,208 $ 15,322 $ 77,727

ENERGY SEGMENT

14,553 9,546 15,771 20,399 60,269

21,671 11,492 15,080 16,235 64,478

ELECTRICAL SEGMENT

12,929 13,293 10,863 7,163 44,248

7,103 3,440 5,307 6,388 22,238

ENGINEERED SOLUTIONS SEGMENT

16,894 14,707 19,756 16,051 67,408

12,412 1,264 3,915 4,949 22,541

CORPORATE / GENERAL

(6,632 ) (7,522 ) (7,991 ) (8,163 ) (30,308 )

(3,110 ) (4,058 ) (4,237 ) (4,196 ) (15,601 )

TOTAL - EXCLUDING IMPAIRMENT / RESTRUCTURING CHARGES

$ 65,761 $ 57,864 $ 71,016 $ 68,049 $ 262,690

$ 65,215 $ 29,196 $ 38,273 $ 38,698 $ 171,383

IMPAIRMENT CHARGES

- - - - -

(26,553 ) - (4,768 ) - (31,321 )

RESTRUCTURING CHARGES (1)

(5,521 ) (4,952 ) - - (10,473 )

(674 ) (3,039 ) (10,749 ) (9,277 ) (23,739 )

TOTAL

$ 60,240 $ 52,912 $ 71,016 $ 68,049 $ 252,217

$ 37,988 $ 26,157 $ 22,756 $ 29,421 $ 116,323

EBITDA %

INDUSTRIAL SEGMENT

32.1 % 31.9 % 32.1 % 33.2 % 32.3 %

30.0 % 23.8 % 29.0 % 24.8 % 27.1 %

ENERGY SEGMENT

29.3 % 22.0 % 27.0 % 33.5 % 28.4 %

29.3 % 19.3 % 24.2 % 25.5 % 24.8 %

ELECTRICAL SEGMENT

9.9 % 10.5 % 8.6 % 6.4 % 8.9 %

6.9 % 3.8 % 6.3 % 7.3 % 6.1 %

ENGINEERED SOLUTIONS SEGMENT

12.6 % 11.4 % 13.6 % 13.2 % 12.7 %

12.0 % 1.7 % 5.1 % 6.4 % 6.8 %

TOTAL (INCLUDING CORPORATE) - EXCLUDING IMPAIRMENT / RESTRUCTURING 16.4 % 15.0 % 16.4 % 17.3 % 16.3

% 17.6 % 9.9 % 13.4 % 13.3 % 13.8 %

CHARGES

Note: The total of the individual quarters may not equal the annual

total due to rounding.

(1) The restructuring charges for the third and fourth quarters of

fiscal 2009 and total fiscal 2009 includes $276, $1,037 and $1,313

of charges included in cost of products sold on the Condensed

Consolidated Statements of Operations.

ACTUANT CORPORATION

Reconciliation of GAAP measures to non-GAAP measures

(Dollars in thousands, except for per share amounts)

FISCAL 2008

FISCAL 2009

Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL

NET EARNINGS (LOSS), EXCLUDING RESTRUCTURING CHARGES,

IMPAIRMENT CHARGES, INCOME TAX ADJUSTMENTS / CREDITS,

DEBT EXTINGUISHMENT CHARGES, AND DISCONTINUED OPERATIONS (1)

NET EARNINGS (LOSS) (GAAP MEASURE)

$ 27,427 $ 22,239 $ 38,635 $ 34,243 $ 122,544 $ 11,598 $ 3,244 $ (17,635 ) $ 16,515 $ 13,723

RESTRUCTURING CHARGES, NET OF TAX BENEFIT 5,521 4,729 - -

10,250 481 2,028 7,173 6,223 15,905

IMPAIRMENT CHARGES, NET OF TAX BENEFIT

- - - - -

16,463 - 2,981 - 19,444

TAX ADJUSTMENTS / CREDITS

- - (2,625 ) - (2,625 ) - - - - -

DEBT EXTINGUISHMENT CHARGES, NET OF TAX BENEFIT - - - - - (236 ) - - 1,303 1,067

DISCONTINUED OPERATIONS, NET OF TAX BENEFIT (1,102 ) (741 ) (862 ) (661 ) (3,366 ) 300 985 20,846 (12,003 ) 10,128

TOTAL (NON-GAAP MEASURE)

$ 31,846 $ 26,227 $ 35,148 $ 33,582 $ 126,803 $ 28,606 $ 6,257 $ 13,365 $ 12,038 $ 60,267

DILUTED EARNINGS (LOSS) PER SHARE, EXCLUDING RESTRUCTURING

CHARGES,

IMPAIRMENT CHARGES, INCOME TAX ADJUSTMENTS / CREDITS,

DEBT EXTINGUISHMENT CHARGES, AND DISCONTINUED OPERATIONS (1)

NET EARNINGS (LOSS) (GAAP MEASURE)

$ 0.43 $ 0.35 $ 0.60 $ 0.54 $ 1.93 $ 0.19 $ 0.06 $ (0.27 ) $ 0.24 $ 0.24

RESTRUCTURING CHARGES, NET OF TAX BENEFIT 0.09 0.07 - -

0.16 0.01 0.03 0.11 0.09 0.24

IMPAIRMENT CHARGES, NET OF TAX BENEFIT

- - - - -

0.26 - 0.05 - 0.29

TAX ADJUSTMENTS / CREDITS

- - (0.04 ) - (0.04 ) - - - - -

DEBT EXTINGUISHMENT CHARGES, NET OF TAX BENEFIT - - - - - (0.00 ) - - 0.02 0.02

DISCONTINUED OPERATIONS, NET OF TAX BENEFIT (0.01 ) (0.01 ) (0.01 ) (0.01 ) (0.04 ) - 0.02 0.33 (0.17 ) 0.15

TOTAL (NON-GAAP MEASURE)

$ 0.51 $ 0.41 $ 0.55 $ 0.53 $ 2.00 $ 0.45 $ 0.11 $ 0.22 $ 0.18 $ 0.95

EBITDA (2)

NET EARNINGS (LOSS) (GAAP MEASURE)

$ 27,427 $ 22,239 $ 38,635 $ 34,243 $ 122,544 $ 11,598 $ 3,244 $ (17,635 ) $ 16,515 $ 13,723

FINANCING COSTS, NET

9,300 9,032 9,190 8,887 36,409 12,235 9,904 9,025 10,685 41,849

INCOME TAX EXPENSE

14,537 11,738 12,959 14,182 53,416 1,497 (604 ) (1,907 ) 540 (474 )

DEPRECIATION & AMORTIZATION

10,084 10,651 11,057 11,400 43,192 12,363 12,638 12,391 13,688 51,080

MINORITY INTEREST, NET OF INCOME TAX

(6 ) (7 ) 37 (2 ) 22

(5 ) (10 ) 36 (4 ) 17

DISCONTINUED OPERATIONS, NET OF TAX BENEFIT (1,102 ) (741 ) (862 ) (661 ) (3,366 ) 300 985 20,846 (12,003 ) 10,128

EBITDA (NON-GAAP MEASURE)

$ 60,240 $ 52,912 $ 71,016 $ 68,049 $ 252,217 $ 37,988 $ 26,157 $ 22,756 $ 29,421 $ 116,323

IMPAIRMENT CHARGES

- - - - -

26,553 - 4,768 - 31,321

RESTRUCTURING CHARGES

5,521 4,952 - - 10,473 674 3,039 10,749 9,277 23,739

EBITDA (NON-GAAP MEASURE) - EXCLUDING DISCONTINUED OPERATIONS,

IMPAIRMENT, AND RESTRUCTURING CHARGES

$ 65,761 $ 57,864 $ 71,016 $ 68,049 $ 262,690 $ 65,215 $ 29,196 $ 38,273 $ 38,698 $ 171,383

(1) Net earnings and diluted earnings per share excluding

restructuring charges, impairment charges, income tax adjustments

/ credits, debt extinguishment charges and discontinued operations

represent net earnings and diluted earnings per share per the

Condensed Consolidated Statements of Operations net of charges or

credits for items to be highlighted for comparability

purposes.These measures should not be considered as an

alternative to net earnings or diluted earnings per share as an

indicator of the company's operating performance.However, this

presentation is important to investors for understanding the

operating results of the current portfolio of Actuant

companies.The total of the individual components may not equal

due to rounding.

(2) EBITDA represents net earnings before financing costs, net, income

tax expense, depreciation & amortization, minority interest and

discontinued operations.EBITDA is not a calculation based upon

generally accepted accounting principles (GAAP).The amounts

included in the EBITDA calculation, however, are derived from

amounts included in the Condensed Consolidated Statements of

Operations data. EBITDA should not be considered as an alternative

to net earnings or operating profit as an indicator of the

company's operating performance, or as an alternative to operating

cash flows as a measure of liquidity.Actuant has presented

EBITDA because it regularly reviews this as a measure of the

company's ability to incur and service debt.In addition, EBITDA

is used by many of our investors and lenders, and is presented as

a convenience to them.However, 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.The total of the individual quarters may not equal

the annual total due to rounding.

SOURCE: Actuant Corporation CONTACT: Actuant Corporation Karen Bauer Director, Investor Relations 262-373-7462 Copyright Business Wire 2009 -0- KEYWORD: United States

North America

Wisconsin INDUSTRY KEYWORD: Manufacturing

Engineering

Other Manufacturing SUBJECT CODE: Advisory

Earnings

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