10/21/2010 12:40:00 AM
NEWS BRIEFS
Emhart Teknologies Posts Q3 Results
The legacy Black & Decker Engineered Fastening business, Emhart Teknologies, posted a strong third quarter, with sales driven 30% higher by increased global vehicle production in the Americas and Japan. Unit volume increased 28%, while price had a negative 1% impact and acquisitions added 3%.
Stanley Black & Decker’s Industrial Division, which includes Emhart, reported Q3 sales grew more than doubled to $517 million, while profit soared to $80 million on a pro forma basis.
Nine-month Industrial sales increased to $1.27 billion, with segment profit increasing to $160.6 million.
Stanley Black and Decker warned that a lower global automotive production forecast will slow growth In its Engineered Fastening business during the final quarter of 2010.
Overall Q3 sales soared 153% to $2.37 billion due to the inclusion of the Black & Decker business, acquired in 2010. Net earnings from continued operations topped $123 million.
Related Stories:
• Alcoa Fastener Segment Sees ATOI Jump
• Grainger Price Gains Boost Bottom Line Growth, Spur Jobs
• Bossard Reports Sales and Profit Jump
• ‘Strong Year’ Predicted at TRW as Profit Jumps
Related Links:
Share: