Stanley Works 3Q Profit Rises

Net income climbed to $91.4 million, or $1.09 per share, compared with $90.5 million, or $1.09 per share, in the year-ago period. Average shares outstanding increased to 84 million from 82.9 million.

Earnings from continuing operations rose to $91.4 million, or $1.09 per share, from $90.2 million, or $1.09 per share.

Analysts predicted earnings of $1.10 per share, according to a Thomson Financial poll.

Sales for the quarter rose 12 percent to $1.13 billion from $1.01 billion in the prior year.

Analysts' consensus estimates put sales at $1.1 billion.

Industrial segment revenue increased to $300.3 million from $266.1 million, while security segment sales grew to $373.6 million from $300.8 million. Construction and DIY sales improved to $457.4 million from $445.8 million last year.

The industrial and security segments posted better operating earnings -- up 46 percent and 34 percent respectively -- while construction and DIY earnings declined 4.5 percent.