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Actuant profit, sales decline less than expected

Actuant Corp. ATU, +8.62% said sales and profit dropped in its latest quarter as the industrial-services company felt the pinch of currency headwinds and weakness in commodities.

While results beat Wall Street expectations, the Menomonee Falls, Wis.-based company said sales slid 15% for the quarter ended in August, while earnings dropped 37%.

Actuant Chief Executive Robert C. Arzbaecher said the company's results "reflect the continuing impact of the downturn across key end markets including energy, agriculture and general industrial." He added that the company registered about $3 million in...