Fasteners Lift Black & Decker Profits
Fasteners Lift Black & Decker Profits
Jason Sandefur
Fastener sales for Black & Decker Corp. grew 15% to $152 million during the second quarter of 2004, while operating profit rose 13% to $21.9 million. Q2 capital expenditures fell 29% to $2.2 million. “(Fastener) sales increased in all key divisions and product lines and were particularly strong in the North American industrial division and in Asia,”” noted CEO Nolan Archibald.
For the first half of 2004, fastener sales gained 9.5% to $290.4 million, providing a 4.4% increase in operating profit to $40.3 million. First half capital expenditures dropped 32% to $4.5 million.
Overall Q2 net earnings for Black & Decker grew 56% to a record $121.8 million, boosted by a 19% jump in sales to $1.3 billion. Overall sales for the first six months grew 17.8% to $2.39 billion, while net earnings soared 75% to $208.2 million. Web: bdk.com �2004 FastenerNews.com
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