SWK shows double-digit growth
Stanley Black & Decker's fourth quarter and full year benefited from sales volume and the impact of acquisitions.
Fourth-quarter sales for one of the nation's iconic tool brands increased 17% to $2.8 billion, with the company's construction and DIY business (CDIY) showing organic growth of 8%.
The company's fourth-quarter gains were attributable to volume (up 5%), price (up 1%) and the impact of acquisitions (11%).
“As we look back on 2011, we are proud of all we accomplished in the face of a choppy and unpredictable global macroeconomic backdrop," said Stanley Black & Decker’s president and CEO, John F. Lundgren.
Earnings for the fourth quarter were $165.3 million, up from $137.8 million in the fourth quarter last year.
For the full year, Stanley's sales increased 12% to $10.4 billion. Net earnings increased to $674.6 million, up from $198.2 million in 2010.
The CDIY segment is expected to produce low single-digit organic revenue growth in 2012. While weakness is expected in Europe, modest growth in North America and strength in Latin America and Asia are expected, the company said.