July 26--Stanley Black & Decker, second quarter, earnings, profits
Stanley Black & Decker reported flat sales but growing profits in the second quarter, with a 13.5 percent profit margin, compared with 11.5 percent in the same period a year ago.
Stanley's second quarter revenues were up 1 percent to $2.9 billion, due to price increases, not higher volume. The company said that North American consumer sales were hurt by the unusually cold spring and that emerging markets were also flat.
Earnings per share was $1.36, or $216.5 million, up from $1.18, or $187.1 million a year ago.
The construction and do-it-yourself segment, Stanley's largest segment, accounted for $1.39 billion in sales and had a 15.6 percent profit margin.
Industrial, which includes what used to be known as Emhart Teknologies, with a factory in Danbury, contributed $889 million in sales and had the highest profit margin, at 16.9 percent.
Security, which includes automatic doors made in Farmington, contributed nearly $602 million in sales, with 11.1 percent profit margin. While the volume of sales was down globally, growth in North America and the developing world increased 3 percent on automatic doors and commercial electronics.
The company increased its 2014 guidance, for $5.38 to $5.48 in earnings per share.
Stanely's stock rose 6.76 percent on Friday, closing at $90.77.
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