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Stanley Black & Decker 4Q Net Tumbles

Stanley Black & Decker's (NYSE:SWK) fourth-quarter profit tumbled 89% on higher restructuring charges that overshadowed revenue growth.The maker of tools and other products reported on Friday a profit of $56.1 million, or 35 cents a share, compared to $492.1 million, or $2.99 a share, in the year-ago period. Adjusted earnings of $1.32 a share did beat Wall Street estimates by two cents.Sales grew 9.3% to $2.91 billion, coming in ahead of expectations for $2.87 billion. Gross margin narrowed a bit to 35.5% from 35.6%.Charges related to mergers and acquisitions more than doubled to $135.5 million. Stanley and Black & Decker completed their merger in 2010 and subsequently sold its hardware and home improvement group two years later to Spectrum Brands Holdings (NYSE:SPB) for $1.4 billion.Early last year, the New Britain, Conn.-based company completed its acquisition of Hong Kong's Infastech, a manufacturer of fasteners, for $850 million.Stanley Black & Decker's sales have recently benefite...

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