Black & Decker Fastener Revenue Improves
Black & Decker Fastener Revenue Improves
Jason Sandefur
Fastener sales for Black & Decker Corp. increased 4% to $167.3 million during the second quarter of 2005, while profit from fasteners dipped 4.2% to $22.4 million due to higher raw material costs.
“Automotive division sales drove the increase, as increased penetration on automotive platforms and strong equipment orders outweighed production decreases by key customers,” stated CEO Nolan Archibald.
Fastener sales in the first six months of 2005 climbed 8.8% to $333.3 million, with profit growing 7.4% to $43.2 million. Black & Decker had fastener segment capital expenditures of $4.7 million in the first half.
Overall Q2 sales jumped 31% to a record $1.7 billion, while profit gained 26.4% to $154 million. Black & Decker first half sales rose 35% to $3.2 billion, while net income soared 54% to $301.9 million. Web: bdk.com �2005 FastenerNews.com
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