Black & Decker Fastener Sales Edge Higher
February 07
00:00
2007
Black & Decker Fastener Sales Edge Higher
Jason Sandefur
Sales at Black & Decker’s Fastening and Assembly Systems segment decreased 2% to $163.8 million during the fourth quarter of 2006, as “slower sales in North America overshadowed outstanding growth in Asia.” Segment profit dropped 16.7% to $23 million.
Full-year fastener sales gained 1% to $666.5 million, while segment profit grew 1% to $95.8 million despite “significant production cuts” by North American auto manufacturers.
Overall sales decreased 1% to $6.4 billion during 2006, with net earnings fell 8.6% to $486.1 million. Web: bdk.com �2007 FastenerNews.com
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