July 24, 2007
Stanley Works Up More Sales
New Britain-based Stanley Works today said that it has hammered out a 12 percent increase in second quarter net income. Those earnings came on a 10 percent increase in revenue. Much of that sales jump was due to the purchase of HSM Electronic Protection Services Inc. Without that company, Stanley revenues would have risen 5 percent in the quarter. The famed tool maker said that its retail tools and do-it-yourself products are lagging in the market. But it's seeing strong growth in its industrial tools and security services segments.
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