Stanley Black & Decker revenues up 4%
Stanley Black & Decker reported fourth quarter net sales of $2.98 billion, up 3% versus the prior year.
For the quarter, the tool maker posted profits of $145.8 million, or 91 cents per share, compared to $56.1 million, or 35 cents, in the same period last year.
"Our CDIY and Industrial segments maintained their impressive performance for the year from both an organic growth and operating leverage perspective, led by developed markets, while growth in the emerging markets continued to outpace the underlying volatile and slowing markets due in large part to the initial successes of our mid-price point product launches," said president and chief operating officer James M. Loree.
Construction and Do-It-Yourself segment sales increased 7% versus the same quarter last year. Organic growth was strong in all regions led by North America (+14%). North America realized share gains and benefitted from continued brisk underlying tool demand across all channels driven primarily by new products and a robust holiday sell-in and sell-through season.
Industrial net sales increased 1% compared to the same period last year. Engineered Fastening achieved 10% organic growth driven by both strong global automotive and electronic revenues. Organic sales for the Industrial and Automotive Repair business were up 5% with solid performances in both the North American and European tools businesses.
Security net sales decreased 1%. Organic growth within North America and emerging markets of 5% was primarily a result of strong performances within the commercial electronics and automatic doors businesses.
Full year revenues increased 4% to $11.3 billion, with organic growth of 5%. Earnings for the year of $760.9 million, or $4.76 per share, compared to earnings of $490.3 million, or $3.09 per share, in 2013.
INDUSTRIAL SUPPLY MAGAZINE
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