The Black &Decker Corp., Towson, MD, reported profit for the third quarter of 2008 was $85.8 million, as decrease of 18% in a year-over-year comparison. Sales declined 4% for the quarter to $1.6 billion.
Sales for the first nine months ended Sept. 30, 2008, dropped 4% to $4.7 billion. Profit for the period declined 24.4% to $249.9 million.
In the Power Tools and Accessories segment, sales decreased 6% for the quarter, driven by weak demand for housing-related and discretionary goods in the U.S. and deteriorating economic conditions in Europe. Sales for the segment increased in Canada, Asia and Latin America.
Third quarter sales in the Hardware and Home Improvement segment decreased 13%.
The Fastening and Assembly Systems segment saw …
Black & Decker 3Q Profit Drops 18%
The Black &Decker Corp., Towson, MD, reported profit for the third quarter of 2008 was $85.8 million, as decrease of 18% in a year-over-year comparison. Sales declined 4% for the quarter to $1.6 billion.
Sales for the first nine months ended Sept. 30, 2008, dropped 4% to $4.7 billion. Profit for the period declined 24.4% to $249.9 million.
In the Power Tools and Accessories segment, sales decreased 6% for the quarter, driven by weak demand for housing-related and discretionary goods in the U.S. and deteriorating economic conditions in Europe. Sales for the segment increased in Canada, Asia and Latin America.
Third quarter sales in the Hardware and Home Improvement segment decreased 13%.
The Fastening and Assembly Systems segment saw …
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