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Stanley Black & Decker reports 5% organic growth in Q1
Stanley Black & Decker zeroed in on the 5% organic growth it achieved in the first quarter, even if currency translation effects reduced its net sales growth to 2% over last year.
Total revenues came in at $2.7 billion for the quarter, with diluted EPS of $1.28 up 20% year-over-year.
Net earnings of $189.4 million also represented an improvement over the prior year's $162.3 million.
Meanwhile, the gross margin rate decreased from 37.0% last year to 36.6%, owing to price, productivity, cost actions and commodity deflation.
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Sales soar at Central Garden & Pet Co.
Central Garden & Pet Company reported its highest quarterly revenues in the company's history.
The Walnut Creek, California-based marketer and producer of lawn and garden and pet supplies reported second-quarter sales of $541.2 million, up 8.8% from $497.6 million in the same quarter last year.
Net income increased 40.7% to $32.7 million compared to $23.2 million in the second quarter a year ago.
The company also posted its highest quarterly earnings per share in ten years.