New Britain tool and industrial manufacturer Stanley Black & Decker said its second-quarter profits grew nearly 16 percent, due to higher revenue and lower costs.
The company netted $216.5 million, or $1.36 per diluted share, up from $187.1 million, or $1.18, in the second quarter of 2013.
That $29.4 million increase was fueled mainly by higher sales, which grew from $2.86 billion to $2.89 billion. Stanley’s cost of sales also declined by more than $20 million during the quarter.
The company also raised its earnings-per-share guidance to between $5.38 and $5.48.
