TOWSON, Md., April 2 /PRNewswire-FirstCall/ -- The Black & Decker
Corporation (NYSE: BDK) today announced that it expects diluted earnings per
share will meet or exceed the analysts' consensus estimate of $0.43 for the
first quarter of 2003.
Nolan D. Archibald, Chairman and Chief Executive Officer, commented,
"Although weak economic conditions will result in first-quarter sales being
lower than we had expected, stronger operating margins, driven by our
restructuring program, will enable us to deliver earnings improvement.
Therefore, we are comfortable with the current consensus estimate for first-
quarter earnings."
The Corporation will present today and tomorrow in New York at investor
conferences sponsored by Deutsche Bank Securities and Banc of America
Securities, respectively. Investors can listen to these presentations by
visiting http://www.bdk.com and clicking on the icon labeled "Live Webcast." Replays
of the presentations will be available at http://www.bdk.com through the close of
business on April 18, 2003. The Corporation will release details regarding
its first-quarter 2003 results and the outlook for the remainder of 2003 on
Thursday, April 24, 2003.
This release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. By their nature, all forward-looking statements involve
risks and uncertainties. For a more detailed discussion of the risks and
uncertainties that may affect Black & Decker's operating and financial results
and its ability to achieve the financial objectives discussed in this press
release, interested parties should review the "Forward-Looking Statements"
sections in Black & Decker's reports filed with the Securities and Exchange
Commission, including the Annual Report on Form 10-K for the fiscal year ended
December 31, 2002.
Black & Decker is a leading global manufacturer and marketer of power
tools and accessories, hardware and home improvement products, and technology-
based fastening systems.
SOURCE Black & Decker Corporation
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Related links:
http://www.bdk.com
Company News On-Call: Black & Decker press releases
available through http://www.prnewswire.com/comp/235329.html
CONTACT:
Barbara B. Lucas, Senior Vice President -
Public Affairs, +1-410-716-2980, or Mark M. Rothleitner, Vice
President - Investor Relations and Treasurer, +1-410-716-3979,
both of Black & Decker
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