* Q3 EPS $0.91 vs est $0.82/shr
* Q3 rev down 23 pct
* Sees Q4 profit above Street view
* Shares up about 2 pct in pre-market
Oct 22 Tool maker Black & Decker Corp BDK.N
posted a 35 percent drop in third-quarter profit on lower
sales, but beat market estimates as it cut costs, and forecast
fourth-quarter earnings above market estimates.
"Looking ahead, we are anticipating continued stabilization
of demand, but not a near-term rebound," the company said in a
For the fourth-quarter ending Dec, the company expects to
earn between 68 cents and 78 cents a share, with sales similar
to third-quarter levels.
Analysts on average expect a profit of 45 cents a share, on
revenue view of $1.18 billion, according to Thomson Reuters
For the third quarter ended Sept 30, Black and Decker
reported net income of $55.4 million, or 91 cents a share,
compared with $85.8 million, or $1.41 a share a year earlier.
Sales declined 23 percent to $1.2 billion.
Analysts on average were expecting the company to earn 82
cents a share, on revenue view of $1.19 billion, according to
Thomson Reuters I/B/E/S.
Selling, general and administrative expenses dropped 17
percent to $309.6 million for the quarter.
Shares of the company were trading up as much as 2 percent
at $49.76 pre-market Wednesday on the New York Stock Exchange.
(Reporting by Biswarup Gooptu in Bangalore; Editing by