Shares of Stanley Black & Decker (NYSE:SWK) rose in post-market trading following the release of the tool producer's Q4 and fiscal 2013 results. For the quarter, net sales were $2.91 billion, a gain of 9% from the $2.66 billion in the same period the previous year. Net income, however, declined by a steep 89%, to $56 million ($0.35 per diluted share) from Q4 2012's $492 million ($2.99).
On a GAAP basis, this past quarter's EPS was $1.32. That was good enough to beat the average analyst EPS projection of $1.30. Actual revenues also topped analyst expectations of $2.87 billion.
In the press release detailing the figures, the firm said that, despite what it described as "challenging" global market conditions, it "made significant progress driving organic growth throughout the organization."
For the full year, Stanley Black & Decker posted a top line just more than $11 billion, against $10.15 billion in fiscal 2012. Its net for last year was $490 million ($3.09 per diluted share) against a 2012 profit of $884 million ($5.30).
The market clearly found those figures encouraging. Following the announcement of the results, the company's stock advanced by nearly 3%, or $2.30, to $80.11 in after-hours trading.