Exhibit 99.1

Actuant Reports Improved First Quarter Results; Increases Fiscal 2011 Guidance

MILWAUKEE--(BUSINESS WIRE)--December 16, 2010--Actuant Corporation (NYSE: ATU) today announced results for its first quarter ended November 30, 2010.

Highlights

• 71% year-over-year increase in diluted earnings per share from continuing operations (“EPS”) to $0.36 (excluding prior year special items - see attached reconciliation of earnings.)
• Core revenue growth (total sales less the impact of acquisitions, divestitures and foreign currency rate changes) of 14%. All four segments reported core sales growth, including the Energy segment at 4%.
• Year-over-year operating profit margin expansion of 230 basis points, excluding prior year restructuring costs.
• Completed the previously announced Mastervolt acquisition after quarter-end, repositioning the Electrical segment to higher growth and product technology.
• Increased full year guidance to reflect strong Q1 results, favorable trends, a lower effective tax rate and the Mastervolt acquisition.

Robert C. Arzbaecher, Chairman and CEO of Actuant commented, “Actuant had a strong start to the fiscal year with double digit core revenue growth, solid operating margin expansion and EPS above our expectations. In particular, we were pleased to have all four segments contributing to the core sales growth with Energy at 4%, and robust 22% core growth at both Engineered Solutions and Industrial. We completed the acquisition of Mastervolt, deploying $150 million of capital on this attractive growth platform which repositions our Electrical segment’s growth, margin and innovation trajectory. I want to thank our employees for their continued hard work and dedication in creating a solid start to the year.”

Consolidated Results

Consolidated sales for the first quarter were $318 million, 17% higher than the comparable prior year quarter. Core sales increased 14% with acquisitions contributing an additional 5%, offset by the stronger U.S. dollar (-2%). Fiscal 2011 first quarter net earnings were $25.9 million, or $0.35 per share compared to net earnings and EPS of $11.9 million and $0.17, respectively, in the comparable prior year quarter. Earnings and EPS from continuing operations in the fiscal 2011 first quarter were $26.7 million and $0.36, respectively, compared to $13.3 million and $0.19 in the comparable prior year quarter. Results for the first quarter of fiscal 2010 included pre-tax restructuring costs (including those reported in cost of products sold) of $2.8 million, or $0.02 per diluted share. Excluding this item, fiscal 2011 first quarter EPS from continuing operations of $0.36 was 71% higher than the $0.21 in the prior year. (See attached reconciliation of earnings.)

Segment Results

(1) Excludes restructuring costs of $0.2 million for the three months ended November 30, 2009.

First quarter fiscal 2011 Industrial segment sales were $87 million, 34% higher than the prior year. Excluding foreign currency rate changes (-1%), and the benefit of the Integrated Solutions (IS) acquisitions (+13%), Industrial segment core sales increased 22% reflecting continued robust demand across nearly all markets and geographies. Year-over-year adjusted operating profit margins improved 190 basis points due to the higher volumes and benefits from prior restructuring actions, partially offset by the impact of unfavorable acquisition related sales mix.

(2) Excludes restructuring costs of $0.1 million for the three months ended November 30, 2009.

Fiscal 2011 first quarter year-over-year Energy segment sales increased 10% to $71 million. Excluding the 2% unfavorable foreign currency impact and 8% contribution from acquisitions, core sales increased 4% due primarily to higher activity levels in emerging markets and improved seismic market demand. The year-over-year core sales rate of change improved from -7% in the fourth quarter of fiscal 2010 as total sales increased 16% sequentially. Current year first quarter adjusted operating profit margin improved sequentially from 13.5% in the fourth quarter to 16.8%, the highest margin in the last twelve months. The 330 basis point improvement was due to the higher volumes; however, it was modestly below the comparable prior year period due to unfavorable mix.

(3) Excludes restructuring costs of $1.9 million for the three months ended November 30, 2009.

Electrical segment fiscal 2011 first quarter sales were $55 million, 2% higher than the comparable prior year quarter due to modest improvement in the North American marine and industrial markets. First quarter adjusted operating profit margin declined 70 basis points from the prior year due to higher logistics costs as well as investments in growth initiatives.

(4) Excludes restructuring costs of $0.4 million for the three months ended November 30, 2009.

First quarter fiscal 2011 Engineered Solutions segment sales increased 18% from the prior year to $105 million. Excluding the impact of the stronger U.S. dollar (-4%), year-over-year core sales grew 22%. First quarter sales reflected strong demand from the global heavy-duty truck markets and significantly higher shipments to agriculture, construction equipment and defense OEMs. First quarter adjusted operating margins increased 710 basis points year-over-year due to restructuring driven cost reductions and substantially improved volumes.

Corporate

Corporate expenses for the first quarter of fiscal 2011 were $8.0 million, an increase of approximately $2.6 million from the prior year. The increase was due to higher 401(k), salary and incentive compensation costs compared to last year’s recessionary levels. In addition, the Company incurred approximately $0.6 million of acquisition related costs, primarily related to Mastervolt.

Financial Position

Net debt at November 30, 2010 was $323 million (total debt of $367 million less $44 million of cash). Actuant’s first quarter cash flow was impacted by seasonal trends including the payment of fiscal 2010 employee incentive compensation. At quarter end, the Company’s net debt to EBITDA leverage was 1.6 times, and its entire $400 million revolver was available. However, in December, the Company deployed approximately $150 million of capital to fund the Mastervolt acquisition, leaving approximately $250 million of unused revolver capacity.

Less than $0.1 million of the Company’s $118 million of 2% Convertible Bonds (“bonds”) were put back to the Company in November 2010 during the first “put window” under the bond debenture. The bondholder’s next opportunity to put the bonds back to the Company is November, 2013, while the Company now has the ability to call the bonds for par at any time until their November 2023 maturity date.

Outlook

Arzbaecher added, “We continue to see encouraging trends across our diverse businesses. Given positive first quarter results, the current foreign currency exchange rate environment, a lower effective tax rate outlook and the inclusion of Mastervolt, we have increased our fiscal 2011 revenue guidance to $1.375-$1.425 billion. We anticipate diluted EPS from continuing operations for the full year to be in the $1.45-$1.60 range. This represents a 34%-48% improvement over fiscal 2010 results. Our full year free cash flow forecast has also been increased $10 million to $140-$150 million, and reflects free cash flow to net earnings conversion in excess of 100%. We continue to pursue accretive acquisition opportunities which, when executed, will be incremental to this guidance.

We expect second quarter sales to be in the $325-$335 million range. EPS from continuing operations is expected to improve over 30% at the mid-point from $0.21 in the second quarter of fiscal 2010 (excluding restructuring charges) to a range of $0.25-$0.30. The second quarter outlook incorporates the normal seasonal slowdown experienced in both the base businesses and newly acquired Mastervolt.

The divestiture process for the European Electrical business (currently reported in Discontinued Operations) is proceeding as planned, with interested parties currently participating in management presentations. We are hopeful that the transaction will be completed later this fiscal year.

With our strong start to the year and positive market trends, we are optimistic about fiscal 2011. We continue to invest in growth initiatives, pursue opportunities to strengthen our portfolio and improve our market position through the recovery phase of this cycle. We believe these activities will enable us to continue to create long-term shareholder value."

Conference Call Information

An investor conference call is scheduled for 10am CT today, December 16, 2010. 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 Corporation

Actuant Corporation is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic and electrical tools and supplies; 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 Butler, 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.

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CONTACT:
Actuant Corporation
Karen Bauer, Director, Investor Relations
262-373-7462