Stanley Black & Decker Raises FY2011 EPS Guidance to $5.15-5.40 vs. $5.15 Est

Stanley Black & Decker SWK raised its 2011 EPS Guidance, excluding M&A charges, by $0.25 to $5.00 - $5.25 due to benefits attributable to the favorable settlement of certain tax contingencies. The 1Q'11 favorable settlement impact was a previously communicated positive $0.12. The remaining settlement of certain tax matters was finalized in late 2Q'11 and was determined to be $48.5M, or $0.28, $0.15 higher than the original estimate. The company therefore is raising its 2011 EPS guidance, excluding M&A related charges, by the additional $0.15 to $5.15 - $5.40. The full year core tax rate has been reduced to a range of 19-20%. Including all acquisition and Black & Decker merger-related charges, the company expects EPS to approximate $4.50 to $4.75 in 2011.