Stanley Black & Decker (NYSE: SWK), New Britain, CT, reported sales for the third quarter were $2.6 billion, an increase of 11 percent in a year-over-year comparison. Organic sales increased 4 percent. Profit was up 26 percent to $155.3 million.
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For the first nine months, sales were $7.6 billion, up 27 percent over the first nine months of 2010. Profit was $511 million, compared to year-ago profit of $60.9 million.
In the CDIY segment, third quarter sales of $1.3 billion were up 6 percent over the same period a year ago. Organic sales were up 5 percent for the sector. Double-digit unit volume growth in Latin America and Asia and sales growth greater than 20 percent for Professional Power Tools drove organic growth for the quarter.
Third-quarter sales in Security increased 17 percent versus the third quarter of 2010. Acquisition growth (+15%), price (+1%), and currency (+2%) drove the improvement; unit volume was down 1 percent.
Sales in the industrial segment rose 19 percent to $642.4 million in the third quarter. Organically, sales grew 10 percent. Organic sales for the Industrial and Automotive Repair (IAR) platform grew 6 percent, led by industrial and mobile distribution as well as storage.
