Stanley Works announces strong fourth quarter
New Britain, Conn.-based Stanley Works reported fourth-quarter net earnings of $92.3 million, up 6.6 percent from $86.6 million from the same period last year. Net sales from the quarter were $1.16 billion, up 14.5 percent from $1.02 billion in last year's fourth quarter.
For the year, the company had net earnings of $336.6 million, up 16.2 percent from $289.5 million in 2006. Net sales were $4.48 billion, up 11.6 percent from last year’s sales of $4.09 billion.
The company attributed the increase to organic growth, currency and acquisitions.
"2008 promises to be an equally, if not more, challenging year from an end-market perspective. Fortunately, we are entering the year with our portfolio in excellent shape and with the majority of our businesses exhibiting strong momentum,” said John Lundgren, chairman and CEO for the company.