Black & Decker 4Q profit drops on expenses

Black & Decker said Wednesday its fourth-quarter profit fell on expenses related to its $4.5 billion acquisition by Stanley Works.

The power tool company has been hit by the recession and housing crisis, but said it expects a "modest improvement" in many of its markets this year as the economy recovers.

Black & Decker's earnings slipped 22 percent to $33.9 million, or 55 cents per share, compared with $43.7 million, or 72 cents per share, a year earlier.

Taking out expenses related to its acquisition by Stanley Works, profit was $1.24 per share.

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- Posted: 2010-02-03 11:47:26

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