The Black & Decker Corporation announced that it expects to meet or exceed its forecast of mid-single-digit sales growth, excluding currency translation and acquisitions, for the second quarter of 2004. As a result, the power tool manufacturer expects that second-quarter diluted earnings per share from continuing operations will meet or exceed securities analysts' mean estimate of U.S. $1.24. The corporation reported diluted earnings per share from continuing operations of $0.96 in the second quarter of 2003.
"Orders and sell-through for our North American power tools and accessories business have been excellent so far this quarter," noted Nolan D. Archibald, chairman and CEO. "Further, our regular contact with key customers indicates that there will not be any disruption of order patterns in the coming weeks. Therefore, we continue to expect outstanding sales and earnings growth for the quarter."
Black & Decker will discuss its second-quarter results and the outlook for the remainder of 2004 during a conference call on July 22, 2004, following the release of its second-quarter 2004 results.
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