Stanley Black & Decker sales up 1 percent
Stanley Black & Decker said its net sales for the second quarter were $2.9 billion, up 1% versus the prior year.
Net earnings were $216.5 million, or $1.36 per diluted share, compared to $187.1 million, or $1.18, in the second quarter of 2013.
In the construction and do-it-yourself segment, net sales of $1.39 billion were flat versus last year. Organic growth for the quarter was up slightly as growth in Europe offset a slow start to the North American outdoor product season caused by abnormally cold weather conditions.
Net sales in the Industrial segment rose 3% to $889.2 million. Engineered Fastening posted 2% organic growth driven by strong global automotive revenues partially offset by weaker electronic volume.
Net sales in Security were relatively flat at $601.7 million. Organic growth within North America and emerging markets increased 2% due primarily to performance within the commercial electronics and automatic doors businesses. Europe declined 6% organically due to lower installation and recurring revenues most notably in Southern Europe.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
