Stanley 4Q sales climb 4%
Stanley Black & Decker said its fourth quarter net sales were $2.7 billion, up 4% versus the prior year.
Net earnings for the quarter were $130.5 million, or 79 cents per share, compared to $154 million, or 92 cents per share, for the same quarter last year.
In the CDIY segment, net sales increased 8%. Organic sales grew 7% in North America due to continued market share gains, a successful holiday season and growth across all sales channels. Organic sales in Europe remained flat due to continued share gains in the U.K. Organic sales expanded at a double-digit rate in the emerging markets due to success in Asia with consumer power tools and outdoor/home products as well as Latin America due to hand tools and cordless outdoor products.
The Convergent Security Solutions (CSS) North America business grew 1% organically due to steady backlog conversion. CSS Europe declined 5% organically, in line with projections, while the bottom line expanded significantly due to cost synergies and the continued success of the integration of Niscayah.
Mechanical Access organic sales were up 3% with mid-single digit growth in the commercial mechanical lock business and low-single digit growth in the automatic door business.
For the full year, revenues were $10.2 billion, up 8% versus prior year.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
