Stanley Black & Decker (NYSE: SWK), New Britain, CT, announced second quarter 2011 sales were up 11 percent from the prior year to $2.6 billion. The increase was due to unit volume (+3 percent), currency (+5 percent) and acquisitions (+3 percent). Pricing was flat.

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Stanley Black & Decker's president and CEO, John F. Lundgren, said: "While it would be fair to say that many across the globe would have expected a more substantial economic rebound in developed markets by this point in the year, particularly in residential housing, we were not banking on one and have worked with our businesses to continue to grow revenues and profits, expand their global footprint and gain market share nonetheless. We remain encouraged by the revenue and profit growth we are seeing in the emerging markets, particularly Latin America and Asia, and the progress we've seen with revenue synergy plans that are on track to meet or exceed our expectations around the globe."

In the CDIY segment, double-digit unit volume growth in Latin America and Asia and mid-teens sales growth of Professional Power Tools & Accessories more than offset weather-related outdoor products sales declines in the U.S. and weaker market conditions in Europe. Organic sales for the combined hand and power tool and accessories businesses, excluding divestitures, grew 7 percent. Organic sales for Hand Tools, Fasteners & Storage were modestly weaker as softness in the retail channel in North America persisted.

DeWalt hand tools began shipping to distributors in June and should drive incremental revenue in coming quarters. Within the Professional Power Tools & Accessories business, the continued success of the 12V lithium-ion cordless line as well as the new 18V lithium-ion products that were launched in Europe in May drove revenue growth, according to the company. Weather-related weakness in outdoor products more than offset high-single digit organic growth within the Consumer Power Tool business during the quarter. Sales for the Pfister business fell 21% due to the ongoing impact of the 1Q'11 loss of SKUs at a major customer.

For the entire CDIY segment, including Pfister and certain minor product line divestitures, net sales increased 5 percent from the prior-year period.

Sales in Security increased 9 percent from the prior-year period. The Convergent Security Solutions (CSS) business grew 4 percent organically as installation volumes and recurring monthly revenue both continued to expand. Order growth continued to be driven primarily by National Accounts, however, signs of a rebound within the later-cycle core commercial account base were evident during the quarter. Stanley Healthcare Solutions grew revenues 3 percent organically, yet was mildly dilutive to overall segment margins due to the inclusion of the 1Q 2011 InfoLogix acquisition. CSS operating margin, excluding Healthcare, increased over 35 percent.

Mechanical Access organic sales were down slightly, as a rebound in the commercial hardware business was muted by weakness in National Accounts remodeling within the Access Technologies business. The residential hardware business was essentially flat as strength in the US due to continued market share gains within electronic locks was offset by a lack of demand largely tied to the weak U.S. residential housing market.

Organic sales in the Industrial segment rose 9 percent. Unit volumes grew 7 percent, price increased 2 percent, while currency was +7 percent. Acquisitions added 13 percent, bringing total sales growth up 29 percent for the quarter. Organic sales for the Industrial and Automotive Repair (IAR) platform grew 13 percent, due to strong hand tool sales within the industrial distribution channel and increased route averages in the mobile distribution business. IAR revenue growth in North America and the emerging markets far outpaced the modest volume increase in Europe where relevant markets are struggling against a soft economic backdrop.

The Engineered Fastening business posted organic sales growth of approximately 6%, outpacing global light vehicle production, which fell 2.5 percent. Growth in North America and Europe was muted by a decline in sales in Asia related to the natural disasters that occurred in Japan in March.