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Stanley Works 1Q Profit Sinks On Tumbling Sales

Stock quotes in this article: SWK  

NEW BRITAIN, Conn. (AP) — Tool maker Stanley Works Co. said Friday its first-quarter earnings tumbled 43 percent as core sales slid and couldn't be offset by acquisition growth and higher prices.

The company earned $37.7 million, or 47 cents per share, compared with $66.5 million, or 83 cents per share, a year earlier.

Revenue slipped 15 percent to $913 million, from $1.07 billion in the first quarter of 2008. ...

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