11/2/2009
NEWS BRIEFS
Black & Decker Fastener Sales Fall 23%
Black & Decker fastener sales declined 23% to $132.8 million during the third quarter of 2009, while operating income fell 55% to $12.3 million.
“Both the automotive and industrial divisions experienced double-digit rates of sales decline in all geographic regions,” the company stated.
Results improved sequentially, particularly in the North American automotive division, as the auto industry’s production rates rose from the depressed levels in the first half of 2009.
Fastener sales during the first nine months of 2009 dropped 30% to $381.7 million, with operating income decreasing 74% to $22 million.
Overall Q3 sales at Black & Decker dropped 23% to $1.2 billion, with net income dropped 35% to $55.4 million. ©2009 GlobalFastenerNews.com
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