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Black & Decker triples profit

SAN FRANCISCO (MarketWatch)
Stanley Black & Decker Inc. reported late Monday its second-quarter profit rose to $197 million, or $1.14 a share, from a year-ago profit of $46 million, or 28 cents a share.
Revenue for the three months increased to $2.6 billion from $2.4 billion a year ago.
The earnings per share, excluding one-time items, were $1.17.
Analyst polled by FactSet Research, who generally exclude one-time items, had predicted
Black & Decker would earn $1.26 a share on $2.6 billion in revenue.
The Connecticut-based tool maker also raised its yearly-earnings-per-share guidance by 25 cents to $5 to $5.25.
Shares of Black & Decker were up 4 cents, to $68.65, in after-hours trade.
The stock is up 34.4% over the past year.

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