New Britain tool maker Stanley Black & Decker Inc. forecast a profit for the full year below analysts’ estimates as it expects a slow recovery in the security and industrial end markets, Reuters reports.
Excluding items, the company expects to earn between $5.40 and $5.65 per share for the year ending Dec. 31. Analysts on average were expecting $5.69, according to Thomson Reuters I/B/E/S.
Stanley said Thursday net income from continuing operations for the fourth quarter fell to $130.5 million, or 79 cents per share, from $153.3 million, or 92 cents per share, a year earlier. Excluding items, it earned $1.37 per share.
Revenue rose 4 percent to $2.66 billion.
For the year, Stanley netted $449.5 million, or $2.70 a share, from continuing operations, down from $598.4 million, or $3.52 a share, netted in 2011.
Full-year revenue was $10.2 billion vs. $9.4 billion a year earlier.
Stanley makes hardware, hand and power tools, mechanical access solutions and industrial equipments.
