Global Fastener News

Black & Decker Q1 Fastener Sales Up

April 28
00:00 2003
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Black & Decker Q1 Fastener Sales Up

Jason Sandefur

Black &Decker Corp. reported fastening and assembly system sales rose 3% in the first quarter of 2003 to $129.2 million, reflecting gains in the automotive and industrial sectors, particularly in Asia. Q1 operating profit for fasteners grew 12% to $18.4 million on manufacturing productivity improvements. CEO Nolan Archibald highlighted the improvement in fasteners as well as the power tools and accessories division, which was achieved despite a �very weak global economic environment.�
Overall, Black & Decker reported Q1 net earnings increased 34% to $43.4 million, while sales improved 2% to $968 million in the quarter. Web: bdk.com �2003 FastenerNews.com

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