Shares of Illinois Tool Works ( ITW) and Black & Decker ( BDK) climbed Tuesday after the toolmakers each posted fourth-quarter earnings that topped recently reduced forecasts. Illinois Tool Works reported a profit of $439.3 million, or 77 cents a share, on revenue of $3.64 billion. A year earlier, the company earned $400.6 million, or 71 cents a share, on $3.25 billion in revenue. In December, the Glenview, Ill., company slashed its earnings forecast to 72 cents to 74 cents a share from its earlier view of 77 cents to 81 cents. At the time, the company warned of soft demand in a number of North American end markets. The company said Tuesday that it had strong contributions from international units, which helped drive earnings growth. Analysts polled by Thomson Financial projected earnings of 73 cents a share and revenue of $3.61 billion. Looking ahead, Illinois Tool Works forecast first-quarter earnings of 69 cents to 73 cents a share and full-year earnings of $3.27 to $3.39 a share. Analysts predict first-quarter earnings of 71 cents a share and 2007 earnings of $3.30 a share. Separately, Black & Decker said it earned $95.7 million, or $1.38 a share, in the fourth quarter. Late last year, the company projected earnings of $1.30 to $1.35 a share, well below analysts' estimate of $1.86 at the time. Analysts' most recent forecast called for earnings of $1.32 a share.