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Black & Decker Beats Analysts' 3Q Estimates


Black & Decker


posted a 21% increase in third-quarter earnings and beat analysts' expectations for the period.

The maker of tools and hardware earned $86.3 million, or $1.03 a share, compared with $75.3 million, or 85 cents a share, a year earlier. Analysts expected the company to earn $1.01 for the period, according to a

First Call/Thomson Financial

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Third-quarter sales increased 2% to $1.13 billion from $1.11 billion last year. Sales rose 5% excluding foreign currency effects.

Shares of Black & Decker were recently trading up $3.06, or 10.8%, to $31.50 on the

New York Stock Exchange