UPDATE: Stanley Black & Decker Posts Rise In Q4 Profit, Issues Downbeat 2013 Forecast

Stanley Black & Decker

reported a rise in its fourth-quarter earnings. For 2013, it projects adjusted earnings of $5.40 to $5.65 per share, versus analysts' estimates of $5.69 per share. Stanley Black & Decker's quarterly profit surged to $492.1 million, or $2.99 per share, from $164 million, or $0.98 per share, in the year-ago period. Excluding one-time items, it earned $1.37 per share. The company last month expected adjusted earnings of $1.28 per share. Its sales rose 4% to $2.67 billion, beating estimates of $2.62 billion. Its gross margin came in flat at 35.5%. Stanley Black & Decker shares closed at $77.96 yesterday.