logo
Share SHARE
FONT-SIZE Plus   Neg

Stanley Black & Decker Q4 Profit Rises, Sees FY13 EPS Below View

Machine tool maker Stanley Black & Decker, Inc. (SWK) Thursday reported a significant increase in fourth-quarter profit, helped by a sale gain. Earnings from continuing operations attributable to shareholders fell, amid a slight increase in sales and higher costs. The company issued full year profit forecast below Street view.

Net earnings attributable to shareholders surged to $492.1 million or $2.99 per share from $164 million or $0.98 per share in the previous year.

Net earnings from continuing operations attributable to shareholders slipped to $130.1 million or $0.79 per share from $153.8 million or $0.92 per share in the previous year.

Excluding charges, earnings from continuing operations were $1.37 per share, while it totaled $1.22 per share last year.

On average, 13 analysts polled by Thomson Reuters expected earnings of $1.28 per share for the quarter. Analysts' estimates typically exclude special items.

The firm divested its Hardware & Home Improvement business or HHI on December 17. Discontinued operations earned $362 million in the quarter compared to $10.2 million last year.

Stanley makes power and hand tools, mechanical access solutions, and electronic security and monitoring systems.

The firm's net sales advanced 4 percent to $2.67 billion from $2.57 billion in the prior year. Analysts expected revenues of $2.62 billion.

Sales growth came from 2 percent volume growth and acquisitions contributed 3 percent, which more than offset the 1 percent negative impact of foreign exchange.

Organically, revenue grew 2 percent. Gross margin remained unchanged at 35.5 percent.

In the CDIY segment, net sales increased 8.3 percent to $1.37 billion on higher unit volumes and acquisitions.

Net sales in Security decreased 2.1 percent to $647 million and Industrial segment sales edged up 1.5 percent to $650 million.

Cost of sales climbed to $1.72 billion from $1.66 billion.

Looking ahead to full year 2013, the company expects earnings per share to be in the range of $5.40 - $5.65, excluding charges. Wall Street expects earnings of $5.69 per share for 2013.

Organic net sales is estimated to increase 2 to 3 percent from 2012, driving $0.00 - $0.15 of earnings per share accretion.

SWK settled at $77.96 on Wednesday.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales. Value-priced fashion apparel and accessories retailer Cato Corp. (CATO) Thursday announced a four percent increase in comparable store sales for August. Sales were for the four week period was up five percent to $67 percent from $63.6 million last year. For the thirty weeks ended August 29, the... Simple, uncluttered, colorful and friendly. That's how Google describes its new logo. The new typeface is sans-serif and without any shadow or embossing, unlike its earlier logos. It has given blue, red, yellow and green to its letters. The "e" is slightly tilted and stylized. On its browser tabs, it has replaced the lower case blue colored "g" with an upper case "G" in four colors.
comments powered by Disqus
RELATED NEWS
Trade SWK now with 
Follow RTT