Auto Sales Help Black & Decker Fastener Growth

Jason Sandefur

International auto division growth helped Black & Decker’s fastener business post a 7% rise in sales to $659.7 million during 2005, while profit from fasteners grew 11.4% to $95 million.
“Volume leverage and pricing increases outweighed commodity cost pressure, enabling the [fastener] segment to improve its full-year operating margin,” noted CEO Nolan Archibald.
Fastener sales during the fourth quarter of 2005 climbed 3% to $166.9 million, with profit jumping 18.4% to $27.7 million.
Overall sales in 2005 increased 21% to a record $6.5 billion. Full year operating income grew 29% to $813.1 million and profit improved 23% to $544 million.
During Q4 sales increased slightly to a record $1.7 billion, with operating income gaining 16% to $222.7 million while net income dropped 24% to $101.8 million. Web: bdk.com �2006 FastenerNews.com