Stanley Works announces sales increase over first quarter

SSN Staff  - 
Friday, March 25, 2005

NEW BRITAIN, Conn. - The Stanley Works has announced that sales from continuing operations increased more than 20 percent over the months of January and February of 2004 compared to the same time period in 2003.

The company also reported that aside from the impacts of recent acquisitions such as security systems integrator Frisco Bay Industries, organic sales growth exceeded 15 percent in the two-month period. Stanley Works now expects first quarter organic sales to increase by a low to mid-teens percentage.

The company expects earnings per fully diluted share to approximate 63 to 67 cents in the first quarter, higher than the prior estimate of 49 to 51 cents provided at the end of January 2004. Taking this higher first-quarter approximation into effect, as well as the company’s positive operational execution, it expects full-year earnings estimate to increase by at least the amount of the first-quarter performance.

Stanley Works, a worldwide supplier of tools, hardware and security systems, did not divide its projections by specific division.