John Wolz

Double-digit gains in the North American automotive sector and in Asia paced Black & Decker Corporation�s Fastening & Assembly Systems segment to an overall 9% sales increase for the final quarter of 2002.
Sales in the industrial sector rose slightly in North America, but lagged in Europe. Fastener operating profit increased 32% from 2001�s Q4 because of manufacturing absorption and lower material costs.
For the full year of 2002, fastening sales increased 5% over the previous year, aided by the 2001 acquisitions of the Bamal automotive division. Operating profit also increased 5%.
Company wide, B&D fourth quarter 2002 net earnings totaled $85.1 million, a 31% jump over the 2001 figure.
For the full year of 2002, Black & Decker�s net earnings increased 28% over the previous year to $261.4 million. Full year sales rose 3% to $4.39 billion.
Fastening sales for the year totaled $502.4 million, compared with $478.4 million the previous year. Income rose from $68.4 million to $72.1 million.
Web: bdk.com �2003 FastenerNews.com