Posted January 27, 2011
Stanley Black & Decker sales soar
Stanley Black & Decker said its fourth quarter sales were $2.4 billion, compared to $969.4 million last year.
The tool giant was formed in March when Stanley Works bought Black & Decker for $4.5 billion. The company reported a profit of $137.8 million, up from $74.3 million a year earlier. Excluding items such as costs relating to the merger, earnings were $1.05 in the most recent quarter.
"2010 was a landmark year for Stanley Black & Decker, driven largely by the significant progress we made in integrating Black & Decker," said president and CEO John F. Lundgren. "We realize that our continued success is dependent upon the ongoing integration of Black & Decker, which is now in a critical phase that includes intensive and often interdependent systems conversions as well as changes within our plant and distribution center networks. Creating additional shareholder value from the successful integration remains management's top priority."
