NEW BRITAIN, CT -- Stanley Black & Decker announced that it posted a net profit of $492.1 million on sales of $2.67 billion in the fourth quarter of 2112. Sales rose 4 percent, and the company attributed the rise to its Security segment, with the remainder being part of the Company’s DIY segment.
Stanley Black & Decker’s CEO, John F. Lundgren, commented, “The close of 2012 marked a transformational year for the Company as we continued our successful evolution into a diversified global industrial enterprise well-positioned for long-term value creation. While we have work to do, including driving organic revenue growth while maintaining our focus on costs and productivity improvements, our strong cash flow generation, diversified revenue base, commitment to innovation and other proven areas of core competency leave us optimistic about the future of our Company.
“At the three year anniversary of the merger of Stanley and Black & Decker, the combination has by all measures been a resounding success. By the end of 2013 we will have achieved $500 million in cost synergies, exceeding our original target of $350 million by 43%."