New Britain tool maker Stanley Black & Decker Inc.’s quarterly results breezed past estimates helped by strong sales across all its units, and forecast 2011 earnings above analysts expectations, Reuters reports.
The company said it sees 2011 earnings per share of $4.75-$5.00, excluding merger and acquisition related charges, and a 5 percent to 6 percent rise in organic net sales.
Analysts expect 2011 earnings of $4.73 a share on revenue of $9.79 billion, according to Thomson Reuters I/B/E/S.
For the fourth-quarter, the company earned $137.8 million, or 81 cents a share, compared with $56.7 million, or 68 cents a share, a year ago.
Excluding items related to its Black & Decker merger, the company earned $1.05 per share.
Pro-forma revenue rose 10 percent to $2.41 billion.
Sales at the company’s largest consumer do-it-yourself unit, which makes hand tools, fasteners and storage products, more than tripled to $1.27 billion.
Analysts were expecting earnings of 92 cents a share on revenue of $2.38 billion.
At 11 a.m., Stanley shares were up 5 percent at $70.30 on the New York Stock Exchange.
