Stanley Black & Decker sales up 9 percent
Stanley Black & Decker reported fiscal fourth quarter 2013 sales were $2.9 billion, up 9% compared to the year before.
The company posted a profit of $56.1 million for the quarter, down from $492.1 million in the same period in 2012. The lower earnings were related to higher restructuring charges.
Full year revenues increased 8% to $11.0 billion, with organic growth of 3%. Net earnings for the year were $490.3 million, down from $883.8 million the year before.
The construction and do-it-yourself segment sales were up 6% in the fourth quarter compared to 2012. Solid organic growth was experienced in all regions led by emerging markets and Europe. Volume in North America was up 5%, primarily due to new product introductions, retail promotions and continued strength in the residential construction market.
Industrial segment net sales rose 27%. Organic sales for Industrial and Automotive Repair increased 5% primarily as a result of volume increases in North America and Europe.
Net sales in the Security segment decreased 2% versus 4Q’12 due to volume (-4%) partially offset by price (+1%) and currency (+1%). Organic growth within the CSS North America business was relatively flat.
“We remain encouraged by the strong results of CDIY and our Industrial businesses, which have leveraged the growth investments made to date. Growth in these businesses within the developed markets of North America and Europe was exceptional," said president and chief operating officer James M. Loree.
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.
