The Black & Decker Corp., Towson, MD, reported sales for 2008 decreased 7.2% over 2007 to $6.1 billion. Profit was $293.6 million, down 43.3%.
For the fourth quarter ended Dec. 31, profit was $43.7 million, down 76.7% when compared with the fourth quarter of 2007. Sales decreased 17% to $1.4 billion, including a negative 4% impact from foreign currency translation.
In light of weak demand in the fourth quarter, the company reduced employment levels by about 1,200 positions.
Sales in the Power Tools and Accessories segment decreased 13% for the quarter and 10% for the year. In the U.S., sales decreased at a double-digit rate for the Industrial Products Group, reflecting slowing markets for both residential and commercial construction. In the …
Black & Decker 2008 Sales Down 7.2%
The Black & Decker Corp., Towson, MD, reported sales for 2008 decreased 7.2% over 2007 to $6.1 billion. Profit was $293.6 million, down 43.3%.
For the fourth quarter ended Dec. 31, profit was $43.7 million, down 76.7% when compared with the fourth quarter of 2007. Sales decreased 17% to $1.4 billion, including a negative 4% impact from foreign currency translation.
In light of weak demand in the fourth quarter, the company reduced employment levels by about 1,200 positions.
Sales in the Power Tools and Accessories segment decreased 13% for the quarter and 10% for the year. In the U.S., sales decreased at a double-digit rate for the Industrial Products Group, reflecting slowing markets for both residential and commercial construction. In the …
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