Black & Decker Fastener Sales Grow
Black & Decker Fastener Sales Grow
Jason Sandefur
Black & Decker Corp. reported sales in its Fastening and Assembly Systems segment increased 6% to $174.1 million during the fourth quarter of 2007, while operating income climbed 10% to $25.4 million. Capital expenditures during Q4 rose 19% to $9.2 million.
Full-year fastener sales grew 4% to $693.3 million, with operating income rising 11% to $106.6 million. During 2007 fastener capital investment increased 25% to $21 million.
“This business accelerated in the second half of the year, led by strong performance in Asia and Europe,” CEO Nolan Archibald stated.
Overall Black & Decker sales increased 2% to $6.6 billion, and net earnings improved 6.5% to $518.1 million. Web: bdk.com �2008 FastenerNews.com
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