[credit provider=”Toolstop” url=”http://www.flickr.com/photos/toolstop/4514186676/”]
NEW BRITIAN, Conn. (AP) — Stanley Black & Decker Inc. said Wednesday that stronger sales, higher prices and a recent acquisition helped boost its fourth-quarter profit nearly 20 per cent.The tool maker reported after the market closed that it earned $165.3 million, or 99 cents per share, for the quarter. That’s up from $137.8 million, or 81 cents per share, in the same quarter last year.
After adjusting for $83.7 million in one-time charges related to mergers and acquisitions, the company earned $1.36 for the period versus $1.07 last year.
Black & Decker’s total revenue increased 17 per cent to $2.79 billion for the quarter, with stronger revenue across all its business lines.
The quarter beat analysts’ average forecast for $1.29 per share on revenue of $2.78 billion, according to FactSet.
The company was weighed down by lingering costs related to several deals. Stanley Works agreed to buy Black & Decker in a deal that closed in 2010. The company also announced earlier this year that was acquiring Swedish commercial security and monitoring company Niscayah Group AB.
Stanley Black & Decker makes hand tools, locks, fasteners and other hardware products.
“We are proud of all we accomplished in the face of a choppy and unpredictable global macroeconomic backdrop,” Stanley Black & Decker’s President and CEO, John F. Lundgren said in a statement.
The company earned $674.6 million, or $3.97 per share, for the full year. That’s up from $198.2 million, or $1.24 per share, in the prior year. After adjusting for one-time items, the company earned $5.24 per share this year, versus $4.15 per share last year.
Its revenue was $10.38 billion, up from $8.34 billion in 2010.
Stanley Black & Decker said it expects to earn $5.75 to $6 for the full 2012 fiscal year, excluding a number of special charges. After adjusting for these costs, some cost cuts and anticipated lower share count, the company expects to earn $4.71 to $4.97 for the full year.
Analysts forecast earnings of $5.91 per share for the year.
Shares of Stanley Black & Decker, which is based in New Britian, Conn., rose $2.45, or 3.5 per cent, to close at $72.34 before the company released its results. They fell $1.27 in after-hours trading.