Stanley Black & Decker Posts Positive Numbers
NEW BRITAIN, Conn. (AP) _ Stanley Black & Decker’s second-quarter net income rose 21 percent as sales rose across its segments and business improved in emerging markets. Its adjusted results and revenue topped analysts’ estimates.
The tool company earned $187.1 million, or $1.18 per share, for the period ended June 29. That compares with $154.8 million, or 92 cents per share, a year earlier.
Removing acquisition-related costs and other items, earnings were $1.21 per share.
Analysts, on average, forecast earnings of $1.20 per share, according to a FactSet survey.
Revenue for the New Britain, Conn. company climbed 12 percent to $2.87 billion from $2.57 billion, bolstered by acquisitions and increased volume. Sales rose for the industrial, construction and do-it-yourself and security units.
Wall Street expected $2.81 billion in revenue.
Stanley Black & Decker Inc. still expects 2013 adjusted earnings of $5.40 to $5.65 per share. Analysts expect earnings of $5.43 per share.
The company’s shares finished at $82.51 on Thursday.