UPDATE 1-Stanley Black & Decker Q3 results beat estimates

* Q3 adj EPS $0.97 vs est $0.90

* Q3 rev $2.36 bln vs est $2.26 bln

* Ups FY EPS view to $3.60-$3.70

Oct 20 (BestGrowthStock) – Stanley Black & Decker (SWK.N: ) posted
better-than-expected quarterly results helped by higher sales
of hand tools, and the company raised its full-year earnings
outlook for a second time this year.

The company, which was formed after Stanley Works bought
rival Black & Decker last year, and makes products such as
mechanics’ tools, hydraulic tools, gardening and plumbing
products and cleaning tools, now sees 2010 EPS of $3.60-$3.70,
up from prior estimate of $3.35-$3.55.

With the integration, the company said it now expects to
realize $125 million in cost synergies in 2010, up from the
previous estimate of $90 million.

For the third quarter, net income was $123.2 million, or 73
cents a share, compared with $60.4 million, or 75 cents a
share, a year ago.

Excluding items, the company earned 97 cents a share.

Revenue more than doubled to $2.36 billion. Sales at the
Construction & DIY segment rose 294 percent.

Analysts on average had expected earnings of 90 cents a
share, before special items, on revenue of $2.26 billion,
according to Thomson Reuters I/B/E/S.

Shares of the New Britain, Connecticut-based company closed
at $62.36 on the New York Stock Exchange. They have risen 5
percent in the last month.
(Reporting by Divya Sharma in Bangalore; Editing by Vyas
Mohan)

UPDATE 1-Stanley Black & Decker Q3 results beat estimates