Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Black & Decker Revises Earnings Guidance for Fourth Quarter and Full Year 2007
Dec 17, 2007
 Printable format
 Email this Article
 Search

The Black & Decker Corp. is revising its earnings guidance for the fourth quarter and full year 2007 due to three developments.

The company expects to recall certain Dewalt XRP cordless drills manufactured during the past 18 months and incur a pre-tax charge of approximately US$25 million in the fourth quarter of 2007. The amount includes estimates of the costs to repair products and the impact of sales returns from distribution channels, but excludes any potential recovery from a component supplier.    

In addition, it said that business conditions in North America have been worse than the company anticipated. As a result of this change and the anticipated recall, the company now expects to report a low single-digit rate of sales decrease, excluding positive foreign currency translation, in the fourth quarter of 2007. Black & Decker's previous guidance was for modest organic sales growth. The change in the operating environment is expected to have a significant negative impact on operating income, compared to previous guidance.

Finally, Black & Decker and the U.S. government reached a settlement agreement on outstanding income tax litigation. As previously disclosed, if the IRS had prevailed in the case, it would have resulted in a cash outflow of approximately $180 million. Black & Decker expects to make cash payments of approximately $50 million during 2008 related to the settlement and that the tax settlement will increase net earnings by approximately $150 million.

Black & Decker now expects to report net earnings per diluted share of approximately $3.39 for the fourth quarter of 2007 and $8.27 for the full year and diluted EPS of approximately $1.03 for the fourth quarter and $6.00 for the full year.

Back to Daily News

 

Daily News

...........................................................

Apr 24, 2014: BSH Annual Revenue Tops EUR 10 Billion for First Time

Apr 24, 2014: New Home Sales Show Sharp March Drop

Apr 24, 2014: Ingersoll Rand HVAC Segment Reports Strong 1Q

Apr 24, 2014: ASHRAE 2014 Annual Conference Announced For Seattle

Apr 23, 2014: Bosch Home Appliances Garners EPA Energy Star Partner of the Year - Sustained Excellence Award

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows