Stanley Black & Decker Sales Decline, but Earnings Exceed Projections

The tool maker raised its forecast for the full year.

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NEW BRITAIN, Conn. (AP) — Stanley Black & Decker Inc. on Friday reported third-quarter net income of $4.7 million.

The Connecticut-based company said it had profit of 3 cents per share. Earnings, adjusted for non-recurring costs, were $1.05 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The tool company posted revenue of $3.95 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $4.02 billion.

Stanley Black & Decker expects full-year earnings in the range of $1.10 to $1.40 per share.

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