Stanley Black & Decker forecasts 2013 profit below expectations
Jan 24 (Reuters) - Tool maker Stanley Black & Decker Inc forecast a profit for the full year below analysts' estimates as it expects a slow recovery in the security and industrial end markets.
Excluding items, the company expects to earn between $5.40 and $5.65 per share for the year ending Dec. 31. Analysts on average were expecting $5.69, according to Thomson Reuters I/B/E/S.
Stanley Black said net income from continuing operations for the fourth quarter fell to $130.5 million, or 79 cents per share, from $153.3 million, or 92 cents per share, a year earlier. Excluding items, it earned $1.37 per share.
Revenue rose 4 percent to $2.66 billion.
Stanley Black makes hardware, hand and power tools, mechanical access solutions and industrial equipments.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.