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Stanley Black & Decker beats Street 4Q forecasts

Stanley Black & Decker dual-action hedge trimmers for sale at a Home Depot in Colma, California.
David Paul Morris | Bloomberg | Getty Images
Stanley Black & Decker dual-action hedge trimmers for sale at a Home Depot in Colma, California.

Stanley Black & Decker on Thursday reported fourth-quarter net income of $145.8 million.

On a per-share basis, the New Britain, Connecticut-based company said it had profit of 91 cents. Earnings, adjusted to account for discontinued operations and costs related to mergers and acquisitions, came to $1.56 per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.

The tool company posted revenue of $2.98 billion in the period, which also topped Street forecasts. Analysts expected $2.96 billion, according to Zacks.

For the year, the company reported profit of $760.9 million, or $4.76 per share. Revenue was reported as $11.34 billion.

Stanley Black & Decker expects full-year earnings to be $5.65 to $5.85 per share.

Stanley Black & Decker shares have fallen almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has declined roughly 3 percent. The stock has risen 16 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWK at http://www.zacks.com/ap/SWK.