TOWSON, Md., June 9 /PRNewswire-FirstCall/ -- The Black & Decker
Corporation (NYSE: BDK) today announced that, primarily due to strong demand
in its power tools and accessories segment, 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, it expects that
second-quarter diluted earnings per share from continuing operations will meet
or exceed securities analysts' mean estimate of $1.24. The Corporation
reported diluted earnings per share from continuing operations of $0.96 in the
second quarter of 2003.
Nolan D. Archibald, Chairman and Chief Executive Officer, commented,
"Orders and sell-through for our North American power tools and accessories
business have been excellent so far this quarter. 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."
The Corporation will discuss its second-quarter results and the outlook
for the remainder of 2004 during a conference call on Thursday, July 22, 2004,
following the release of its second-quarter 2004 results. The call is
scheduled to begin at 10:00 a.m., E.T., and will be webcast "live" over the
Internet. Investors can listen to the call by visiting http://www.bdk.com and
clicking on the icon labeled "Live Webcast." It is recommended that listeners
log-in at least ten minutes prior to the beginning of the call to assure
timely access. A webcast replay of the conference call will be available at
http://www.bdk.com.
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, 2003.
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 The 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 The Black & Decker Corporation
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