Stanley Black & Decker Said Fiscal Third-Quarter Earnings Slipped as Margins Narrowed

Stanley Black & Decker (NYSE: SWK) said fiscal third-quarter earnings slipped as margins narrowed, triggering the power tool maker to revise its fiscal 2012 forecast. Net earnings attributable to shareholders fell to $115 million or 69 cents per share, versus $154.6 million or a 96 cent per share profit, seen last year. Stripping out acquisition-related costs, debt extinguishment charges and other items, it actually earned $1.40 per share. Revenue grew to $2.78 billion from $2.61 billion. Analysts polled by Bloomberg expected a per-share profit of $1.48, on $2.8 billion in sales for the period that ended September 29. "During the quarter, we saw pockets of strength within our Hand and Power Tool businesses in the U.S. and the emerging markets," chief executive John F. Lundgren said in a statement. Gross margin narrowed to 36.2 per cent from 37 per cent. One week ago, Stanley Black & Decker Inc. announced that it is selling its hardware and home-improvement business to Spectrum Brands Holdings Inc. for $1.4 billion in cash. For fiscal 2012, the company now expects per-share earnings of $5.25, excluding one-time special items. That is down from its prior view of $5.40 to $5.65 per share. Analysts expected to see $5.51 per share. Source: Proactive Investors