Actuant to reclassify results

Actuant to reclassify results after sale of 2 businesses in fourth quarter

• On 5:14 pm EDT, Monday September 28, 2009

MILWAUKEE (AP) -- Industrial company Actuant Corp. said Monday it has reclassified the historical operating results of its Acme Aerospace and BH Electronics businesses that it sold during its most recent fiscal quarter to discontinued operations.

Actuant, based in Butler, Wis., said its fourth-quarter and full-year results that it will release Wednesday will include $13 million in earnings from discontinued operations, primarily because of the gain from the sales. The company also will record a $2 million, pretax charge from the retirement of a bank loan.

Excluding discontinued operations, restructuring costs and the debt charge, the company said it will post a fourth-quarter profit of 12 to 20 cents per share on revenue of $275 million to $295 million, both in line with its previous guidance issued on June 17.

Analysts surveyed by Thomson Reuters expect Actuant to post profit of 17 cents a share on revenue of $283 million.

Actuant shares rose 3 cents to close at $15.59 Monday. The shares have traded between $7.02 and $26.74 over the past year.