Stanley Black & Decker reports net sales up 3.5% in Q4

Stanley Black & Decker reported modest but steady growth in the fourth quarter, results that its chief executive said would fortify its position when facing challenges in the year ahead.

Stanley Black & Decker reported modest but steady growth in the fourth quarter, results that its chief executive said would fortify its position when facing challenges in the year ahead.

“We were very pleased with our performance in the fourth quarter and for the full year," said chairman and CEO John Lundgren. "Our commitment to well balanced capital allocation priorities combined with our focus on key operational levers produced favorable organic growth, operating leverage and free cash flow results despite adverse currency and volatile macro environments."

Net sales for the quarter came in at $2.98 billion, up from $2.88 billion in the fourth quarter of 2013. This was mainly due to increases in volume and price, but partially offset by currency.

In terms of net income, the company pulled in $145.8 million, up considerably from last year's $56.1 million.

For the full year, Stanley Black & Decker pulled in net sales of $11.34 billion, compared to $10.89 billion in 2013. Net income was $760.9 million, several steps ahead of 2013's $490.3 million.

“As we look to 2015, we continue to enjoy strong operating momentum amidst similar operating conditions and, as a consequence, are well positioned to manage through another challenging environment," added Lundgren. "Our long-term strategy and financial objectives remain intact, and we are confident in our ability to continue to generate strong underlying organic revenue, earnings and cash flow growth while producing meaningful returns for shareholders.”