UPDATE: Stanley Black & Decker Posts Rise In Q4 Profit, Issues Downbeat 2013 Forecast
Stanley Black & Decker (NYSE: SWK) 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.
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