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Thursday, November 05, 2009
Stanley Cuts 2009 EPS Outlook To $2.61-$2.71
By Sue Chang
MarketWatch Pulse
SAN FRANCISCO -- Stanley Works late Thursday cut its 2009 earnings outlook to a range of $2.61 to $2.71 a share from $2.84 to $2.94 a share to reflect a one-time $18 million charge related to its merger with Black & Decker . However, the management still expects gross margins of 40% and free cash flow in excess of $300 million for the year. "The revision in the company's guidance does not reflect any change in its operational outlook," said Stanley in a statement.
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