New Britain hand-, power-tool maker Stanley Black & Decker posted a 19.5 percent gain in fourth-quarter profit on strong sales.
For three months ended Dec. 31, Stanley netted $165.3 million, or 99 cents a share fully diluted, up from $137.8 million, or 81 cents a share, the same period in 2010.
Fourth-quarter sales totaled $2.8 billion vs. $2.4 billion a year earlier.
For the year, Stanley netted $674.6 million, or $3.97 a share, up from $198.2 million, or $1.32 a share, a year ago.
2011 sales were $10.4 billion vs. $8.4 billion in 2010.
For 2012, the company is sticking to its previous forecast of earnings per share in the range of $5.75 to $6.
To ensure that target, Stanley is underway with trimming at least $150 million in overhead across all its divisions.
