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Towson, Md.-based Black & Decker reported net earnings for the third quarter ended Sept. 30 of $104.6 million, down from $125.1 million for the same quarter last year, a 16 percent loss.
Net sales for the quarter were $1.63 billion, up 1.5 percent from third-quarter 2006 sales of $1.61 billion.
Nolan D. Archibald, chairman and CEO said, “Solid growth in many of our businesses, combined with favorable currency, enabled Black & Decker to increase sales despite weak markets in North America.”
Black & Decker is a global manufacturer of power tools and accessories, hardware and home improvement products and technology-based fastening systems.