Oct 17 (Reuters) – Stanley Black & Decker Inc, known
for its Black & Decker and Dewalt power tools and Stanley
security products, reported a lower third-quarter profit and cut
its full-year earnings outlook as margins declined.
The company said it now expects full-year adjusted earnings
of about $5.25 per share, down from its previous forecast of
between $5.40 and $5.65 per share.
Stanley Black & Decker said its third-quarter margin fell to
36.2 percent from 37 percent, mainly because of shrinking
margins in its construction and do-it-yourself segment, which
includes power and hand tools.
The company’s industrial and security division commands
higher margins, but made up a lower portion of sales in the
latest quarter.
Stanley Black & Decker’s earnings fell to $115.2 million, or
69 cents per share, for the quarter, from $154.6 million, or 92
cents per share, a year earlier.
Revenue rose 6 percent to $2.79 billion.
