<PAGE>
Company Press Release
Applied Power Inc. Announces Record
Third Quarter Sales Led by Strong Growth in Electronics
Segment
WAUKESHA, Wis.--(BUSINESS WIRE)--June 6, 2000--In preparation for a research
analyst meeting to be hosted by Applied Power Inc. (NYSE: APW - news) on June
8th, the company pre-announced record sales of $497.5 million for its fiscal
third quarter ended May 31, 2000, an increase of 13% over the prior year.
Sales for the Electronics segment were $319.6 million, an increase of 23% over
the third quarter of last year. The Industrial segment recorded sales of $177.9
million, a slight decrease from the third quarter last year. Excluding the
negative effects of currency, Electronics sales grew 26% and Industrial sales
grew 2%.
Richard G. Sim, Chairman and Chief Executive Officer of Applied Power commented,
"The accelerating growth in our Electronic segment validates the actions that we
took in 1998 to construct the leading company in the world providing large,
integrated electronic enclosures to high-growth markets such as communication,
computing and internet service providers. We started to aggressively market this
strategy in 1999 and the growth we are enjoying today is the direct result of
that effort. We are particularly gratified that prominent companies such as
Ericsson, Lucent, Motorola, Cisco, Marconi, Compaq, Sun, EMC, HP and IBM are all
increasing their commitment to APW. This quarter, our new program wins were $358
million, yielding annualized sales, once in full production, of approximately
$150 million. In the last nine months, APW has won new programs worth
approximately $150 million. In the last nine months, APW has won new programs
worth approximately $1.3 billion over their lifetime with an annualized run rate
of approximately $440 million. As a result of the strength of these recent
program wins, we are increasing our projection of revenue for APW Electronics in
fiscal year 2001 to $1.46 billion, which is 20% higher than our increased
estimate for this fiscal year of $1.216 billion."
Sim continued, "Although the slowing in the North American economy is affecting
our Industrial business, we believe that the economic upturn in Europe and Asia
will help offset this effect over the next twelve months."
Applied Power Inc. will release full earnings detail for fiscal third quarter on
June 16, 2000.
About Applied Power Inc.
<PAGE>
Applied Power Inc., headquartered in Waukesha, Wisconsin, is a global company
comprised of two business segments. Electronics supplies electronic enclosures,
power supplies, thermal systems, backplanes, and cabling either as products or
integrated as a system supplied along with new product design, supply chain
management, assembly and test services. Industrial is composed of standard and
customized OEM products sold to a wide array of end users through distribution
or directly into a variety of niche markets.
Certain of the above comments represent forward-looking statements made pursuant
to the provisions of the Private Securities Litigation Reform Act of 1995.
Management cautions that these projections are based on current estimates of
future performance and are highly dependent upon a variety of factors, which
could cause actual results to differ from these estimates. Applied Power's
results are also subject to general economic conditions, continued market
acceptance of the Company's new product introductions, the successful
integration of recent acquisitions, operating margin risk due to competitive
pricing, foreign currency fluctuations and interest rate risk.
APPLIED POWER INC.
FINANCIAL DATA PACKAGE (UNAUDITED)
($'s in 000's)
BUSINESS SEGMENT DATA
FISCAL 1999
Q1 Q2 Q3 Q4 Year
-- -- -- --- ----
Sales:
Industrial $ 172,475 $ 171,900 $ 179,981 $ 171,348 $ 695,704
Electronic 263,185 250,054 260,524 281,574 1,055,338
----------------------------------------------------------------------
Total $ 435,660 $ 421,955 $ 440,505 $ 452,922 $ 1,751,042
======================================================================
Percent Sales Growth Over Prior Year:
Industrial 14% 12% 9% 2% 9%
Electronic 111% 99% 87% 38% 78%
----------------------------------------------------------------------
Total 58% 51% 45% 22% 42%
======================================================================
FISCAL 2000
Q1 Q2 Q3 Q4 YTD
-- -- -- --- ---
Sales:
Industrial $ 173,041 $ 184,087 $ 177,900 $ 535,028
Electronic 289,126 277,090 319,600 885,816
----------------------------------------------------------------------
Total $ 462,167 $ 461,177 $ 497,500 $ 1,420,844
======================================================================
Percent Sales Growth Over Prior Year:
Industrial 0% 7% -1% 2%
Electronic 10% 11% 23% 14%
----------------------------------------------------------------------
Total 6% 9% 13% 9%
======================================================================
APW Electronics
Customer Sales Summary
Top 10 Customers
<PAGE>
Quarter Ended November 30, 1999
Applied Materials
Compaq
EMC
Hewlett-Packard
IBM
Lucent
Marconi
NCR
Nortel
Sun Microsystems
Top 10 Customers Sales $ 110,262
% of Total Electronics Sales 38%
===
Top Customer
% of Total Electronics Sales 7%
==
Quarter Ended February 29, 2000
Applied Materials
Compaq
EMC
Hewlett-Packard
IBM
Lucent
Marconi
NCR
Nortel
Sun Microsystems
Top 10 Customers Sales $ 100,752
% of Total Electronics Sales 36%
===
Top Customer
% of Total Electronics Sales 6%
==
Quarter Ended May 31, 2000
Applied Materials
Compaq
EMC
Hewlett-Packard
IBM
Lucent
Marconi
NCR
Nortel
Sun Microsystems
<PAGE>
Top 10 Customers Sales $ 124,600
% of Total Electronics Sales 39%
===
Top Customer
% of Total Electronics Sales 7%
==
