NEW BRITAIN, Conn. (AP) — NEW BRITAIN, Conn. (AP) — Stanley Black & Decker Inc. (SWK) on Wednesday reported first-quarter net income of $59.6 million.
The New Britain, Connecticut-based company said it had profit of 39 cents per share. Earnings, adjusted for non-recurring costs, came to 80 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The tool company posted revenue of $3.85 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $3.74 billion.
Stanley Black & Decker expects full-year earnings in the range of $4.90 to $5.70 per share.
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