UPDATE: Actuant Reports Upbeat Q3 Profit, Raises Full-Year Forecast

Actuant Corp ATU reported upbeat fiscal third-quarter profit and raised its full-year projections. Actuant reported a quarterly profit at $36.4 million, or $0.49 per share, up from $21.8 million, or $0.30 per share, in the year-earlier period. Its earnings from continuing operations surged to $0.51 per share from $0.39 per share. Its sales rose 27% to $392.8 million. Analysts were expecting earnings of $0.46 per share on revenue of $379.09 million. Actuant lifted its full-year earnings forecast to $1.60 to $1.65 per share on sales of $1.43 billion to $1.44 billion. In March, the company had projected earnings of $1.50 to $1.60 per share on sales of $1.4 billion to $1.425 billion. Looking to 2012, Actuant projects full-year earnings, excluding future acquisitions, of $1.80 to $2 per share on sales of $1.6 billion to $1.65 billion. Analysts expected earnings of $1.87 per share on revenue of $1.55 billion. Actuant shares jumped 6.92% to $24.40 in pre-market trading. Read more from Benzinga's Company news.