新英国，康涅狄格州。那 1月29日，2020年/ prnewswire / - 斯坦利黑＆甲板（纽约证券交易所代码：SWK）今天宣布全年和2019年第四季度财务业绩。

• 全年收入总计 $14.4 Billion那Up 3% Versus Prior Year, With 3% Organic Growth
• 全年的经营保证金率为12.2％;除非收费，全年的经营保证金率为13.5％，而尽管如此，相对一致 $445 MillionIn External Headwinds
• Full Year Diluted GAAP EPS Was 6.35美元;前任cluding Charges, Full Year Diluted EPS Was $ 8.40那Up 3% Versus Prior Year
• Full Year Free Cash Flow Was $1.1 Billion，净收入的113％
• 4.Q'19 Revenues Totaled 37亿美元，上年前2％
• 4.Q'19 Operating Margin Rate Was 11.8%; Excluding Charges 4Q'19 Operating Margin Rate Was 13.6%, Up 30 Basis Points Versus Prior Year
• 4Q'19稀释的GAAP EPS是 $ 1.32;前任cluding Charges, 4Q'19 Diluted EPS Was $2.18
• 前任pect 2020 Full Year Diluted GAAP EPS Of $ 8.05至8.35美元;调整后的eps $ 8.80 - $ 9.00;2020自由现金流转换为近似90％-100％

Other Developments:

• 宣布2020工具和存储单元的领导转换

• 达成协议，以获得综合航空航天制造，LLC（凸轮）For Up To $1.5 Billion; Provides A Fastener & Component Platform To Grow In Aerospace & Defense And Advances Growth Strategy

4Q'19重点：

• 本季度的净销售额是 37亿美元，上年增加2％（+ 1％），价格（+ 1％）和收购和剥离（+ 1％）超过偏移货币（-1％）。

• 本季度毛利率为31.2％。不包括费用，速度为31.7％，从前一年的160个基点下降，生产力和价格超过外部逆风和产品混合和植物吸收在工具和储存中的影响。

• SG＆A费用为19.5％的销售额。不包括费用，SG和费用为18.1％的销售额，而2018年的销售额为20.1％，主要反映出根据外部逆风采取的行动。

• 税率为10.7％。不包括收费，税率为15.8％，而第4季度的17.3％。

• Working capital turns for the quarter were 9.8, up 1.0 turns from prior year primarily as a result of working capital management and lower inventory investment associated with recent Tools & Storage brand rollouts.

詹姆斯·罗格，总统兼首席执行官评论道，“ 斯坦利黑＆甲板大约交付了强大的2019年克服 4.45亿美元在外部逆风中。我们产生的高于市场有机增长3％，低单位数调整后EPS生长和强大的自由现金流在动态运行环境中。

“成长和多样化我们的工业企业through M&A is a key priority for the Company and a focus of our strategic capital deployment. Today we are excited to announce the acquisition of CAM which is an ideal platform asset to scale within our Engineered Fastening business and significantly adds to our exposure in the high growth, high margin aerospace and defense segment. CAM is a quality asset bringing well-recognized brands, a proven business model, an experienced management team and compelling cash flow characteristics which create an attractive pathway for profitable growth and shareholder returns.

“期待2020年及以后，我们仍然很好地提供股份收益，因为我们利用我们的强大增长催化剂，包括工匠，电子商务，在我们的投资组合中的收入协同作用以及新的创新。本组织专注于产生边缘吸引力我们意识到我们的好处 2亿美元cost reduction program and implement our margin resiliency initiatives. We are energized to tackle what 2020 has in store as we leverage our proven operating system. We intend to act with speed and agility to deliver another successful year and continue to achieve our vision to (1) deliver top-quartile financial performance, (2) become known as one of the world's great innovators, and (3) elevate our commitment to corporate social responsibility."

4Q'19分部结果

• 由于货币（-1％）部分抵消（-1％），工具和储存净销售增加了1％而不是4季度第4季度（+ 2％）。本季度的2％有机增长由 North America（+ 3％）和 欧洲（+ 3％），超过新兴市场的下降（-3％）。 North America有机成长由工匠品牌和新产品创新的推出驱动，如德沃特Flexvolt，原子和Xtreme，其部分被下降抵消 加拿大and industrial-focused businesses. 欧洲新产品支持增长和成功的商业行动。新兴市场的有机衰落归因于市场条件疲软 Latin America抵消价格，新产品发布和电子商务扩张的福利。工具和储存分部利润率，不包括费用，增加110个基点与4Q'18率，因为由外部逆风，产品组合和不利的植物吸收有部分抵消，产品组合和不利的植物吸收相关库存减少。

• 工业的net sales increased 9% versus 4Q'18 as acquisitions (+13%) were partially offset by lower volume (-4%). Engineered Fastening organic revenues were flat as higher systems shipments and fastener penetration gains were offset by inventory reductions and lower production levels within industrial and automotive customers. Infrastructure organic revenues (-17%) were impacted by challenging oil & gas pipeline and scrap steel markets. 整体工业segment profit rate was 13.6%, excluding charges, up from the 4Q'18 rate of 13.2%, as productivity gains and cost control more than offset the impact from lower volume and externally driven cost inflation.

• 安全net sales increased 1% versus 4Q'18 as volume (+2%) and price (+2%) were partially offset by divestitures (-2%) and currency (-1%). The 4% organic growth was led by North America（+ 7％）和 欧洲(+1%) and was partially offset by business shut-downs in emerging markets. North America通过在商业电子安全和医疗保健和自动门中增加的商业电子安全和更高的卷来驱动有机生长。 欧洲growth in France＆ Sweden在持续的市场疲软中部分抵消了 U.K.Overall Security segment profit rate, excluding charges, was 11.2%, down versus the 4Q'18 rate of 12.0%, as organic growth and cost containment were more than offset by the impact from the Sargent & Greenleaf divestiture and investments to support organic growth.

唐纳德艾伦Jr.，执行副总裁兼首席财务官，评论说：现在定位良好，提供一致的有机增长，并利用我们的成本效率措施来产生扎实的矛盾。“

工具和存储领导转换

今天，该公司还宣布了eVP和工具和存储业务总裁， Jeffery D. Ansell.，在2020年上半年期间选择过渡他的职责。 Jaime A. Ramirez那currently Senior Vice President & Chief Operating Officer of Tools & Storage, will succeed Ansell effective July 1。Ansell will work closely with Ramirez through the transition period. He will then assume responsibility for a strategic initiative to revitalize and accelerate growth of the iconic BLACK+DECKER brand through year-end 2021, reporting directly to the CEO. He will then become a Strategic Advisor to the Company through year-end 2023.

Loree补充道，“我们的工具和存储特许经营权是在177年的品牌，技术，产品和团队中为我们的行业领导者提供了177年。在过去的二十个中，很少有贡献我们的成功 杰夫安尔，我们很感激。我们尊重他在个人努力中花费更多时间，并欣赏他将在未来几年中继续作为我们团队的重要组成部分。我们预计将平滑过渡到 Jaime Ramirez.，27年的工具和存储资深。凭借对我们的业务和客户的深刻了解，全球视角，致力于创新和他的同事的尊重，我们相信他是将工具和存储业务带入未来的正确领导者。“

Acquisition Of Consolidated Aerospace Manufacturing, LLC（凸轮）

该公司今天宣布，它已签订了最终的协议，以获得凸轮 15亿美元现金，与 2亿美元of the purchase price held back and contingent on the 波音737 MAX接收 FAAauthorization to return to service and 波音achieving certain production levels. When adjusted for approximately 1.85亿美元预期现金的税收优惠,净transaction value is approximately $ 1.1 - 13亿美元。CAM是航空航天和国防市场的专业紧固件和部件的行业领先的制造商（LTM收入 〜3.75亿美元）。凸轮将成为一部分 斯坦利黑色和甲板的广泛的工程紧固件和成分解决方案组合，在公司的工业领域中增加了一个有意义的平台，以进行持续的有机和收购增长。

收购预计大约是eps的收购 $ 0.30 - 0.40美元在三年级。该交易，符合惯常的结束条件，包括收到所需的监管批准，将资助现货和借款收益。

2020前景

Allan补充道，“尽管全球市场减缓了全球市场和额外的关税和货币相关通货膨胀，但我们在2019年在2019年在2019年划分的股份增长以及强大的现金流动性能。 4.45亿美元外部逆风。2020年，我们预计市场上上方的有机增长率约为3％，每股盈利调整盈利为5％ - 7％，而继续持续的自由现金流量。“

Management expects 2020 EPS to be $ 8.05至8.35美元在GAAP基础上 $ 8.80 - $ 9.00在调整后。自由现金流转换预计将估计预计GAAP净收入的90％-100％，反映了与2019年成本减少计划相关的重组支付的影响。

The following represents key 2020 adjusted EPS assumptions:

• 2019年成本减少计划福利（〜+ 0.95）
• 有机生长约3％（〜+ 0.40至+ 0.50美元）
• Incremental tariffs and currency headwinds (~ - $0.60to - $0.70）
• 税率，融资成本和线下方物品（〜 - 0.25美元）

艾伦继续，“本组织专注于通过实现先前宣布的成本行动的福利和产生批量利用以抵消关税和货币的储存影响的利益来提供利润率扩张。此外，我们的边缘弹性计划处于完整的执行模式，允许我们抵抗外部环境的变化或支持进一步的边缘改善。

“我们相信该公司能够提供持续高于市场的有机增长，营业利润率扩张，强大的自由现金流转换和高分子股东回报的长期。”

2020 GaAP与调整后EPS指导之间的差异是 $0.65 - $0.75那consisting of acquisition-related and other charges. These forecasted charges primarily relate to restructuring, deal and integration costs, as well as Security business transformation and key margin resiliency initiatives.

合并和收购（“并购”）相关和其他费用

Total pre-tax M&A related and other charges in 4Q'19 were 164.0万美元那primarily related to restructuring, deal and integration costs, charges related to the extinguishment of debt, as well as Security business transformation and margin resiliency initiatives. Gross margin included $17.3 million在SG和A包括时，这些费用 52.6百万美元。其他，净和重组包括在内 3100万美元and 6290万美元这些费用分别。4季度的并购收费还包括一个 0.2万美元与以前的剥离有关的费用。

包括公平方法投资的净收入的份额 530万美元收费。

The Company will host a conference call with investors today, 2020年1月29日， 在 凌晨8:00。将伴随电话的幻灯片演示提供m.xylmmw.com.and will remain available after the call.

通过在美国（877）930-8285，美国+1（253）336-8297以外的电话，并通过互联网，通过电话访问m.xylmmw.com.。要参加，请在通话前至少十五分钟注册网站并下载并安装任何必要的音频软件。请使用会议识别号6156575.呼叫后两小时也将可提供一次，并且可以使用PassCode 6156575访问（855）859-2056或+1（404）537-3406。再播放也可用作为24小时内的播客，可以在我们的网站上并通过iTunes访问。

斯坦利黑＆甲板， 一个 标准普尔500家公司，是一种多元化的全球手动工具提供商，电动工具及相关配件，电子安全解决方案，医疗解决方案，工程紧固系统等。了解更多m.xylmmw.com.。

Investor Contacts:

丹尼斯兰格
投资者关系副总裁
dennis.lange@sbdinc.com.
（860）827-3833

Cort Kaufman
投资者关系导演
cort.kaufman@sbdinc.com
（860）515-2741

Media Contacts:

Shannon Lapierre.
副总裁，通信与公共关系
shannon.lapierre@sbdinc.com.
（860）827-3575

有机销售增长被定义为总销售增长较少销售于过去12个月和任何外币影响的公司所获得和剥离的公司的销售额。工作保证金定义为销售额减少销售额和销售成本，一般和行政费用。管理层使用营业保证金及其净销售百分比作为评估公司整体表现的关键措施，以及分部级别的相关措施。自由现金流定义为来自业务的资本和软件支出的现金流量。管理层考虑自由现金流动的重要指标，以及其资助未来增长的能力，并提供返回股东的返回。自由现金流量不包括强制性偿债服务，其他借款活动，关于本公司普通股票和商业收购的酌情股息的扣除额。自由现金流转换被定义为自由现金流除以净收入。正常化的行动和业务部门信息声明，如第13到16页的GAAP，与援助分析公司的保证金和盈利成果的援助分析有关，除了并购相关和其他费用的重大影响。

CAUTIONARY STATEMENTS
根据1995年的私营证券诉讼改革法案

This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections or guidance of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new products, services or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include, among other, the words "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate" or any other similar words.

虽然公司认为，在任何前瞻性陈述中反映的期望是合理的，但实际结果可能与任何前瞻性陈述中的任何项目或假设的实际结果不同。公司未来的财务状况和业务结果以及任何前瞻性陈述都可能发生变化和固有的风险和不确定性，例如通过本公司申请披露或通过参考披露或纳入的人 Securities and Exchange Commission。

可能导致公司实际结果，绩效和成就或行业结果不同于其前瞻性陈述所载估计或预测的实际结果，绩效和成就的重要因素包括以下内容：（i）成功开展，营销和实现销售新产品和服务以及持续接受目前的产品和服务;（ii）宏观经济因素，包括全球和区域业务条件（如Brexit），商品价格，通货膨胀和货币汇率;（iii）影响公司在其业务的国家的法律，法规和政府政策，包括与关税，税收和贸易管制有关的国家;（iv）新兴市场的经济环境，特别是 Latin America那 俄罗斯那 中国and 火鸡;(v) realizing the anticipated benefits of mergers, acquisitions, joint ventures, strategic alliances or divestitures, including the closing of the CAM acquisition, its successful integration into the Company and the return to production of the 波音737最大;（vi）竞争市场内的压力和其他变化;（vii）原材料的可用性和价格，部件，货运，能源，劳动力和采购成品;（viii）收紧信贷市场可能对公司或客户或供应商的影响;（ix）公司必须根据客户或供应商签署应收账款或资产或经验供应链中断的程度;（x）该公司能够识别和有效执行生产力提高和降低成本;（xi）潜在的业务和分销中断，包括与物理安全威胁，信息技术或网络攻击，流行病，制裁或自然灾害有关的业务和分销中断;（XII）客户的持续巩固，特别是在消费者渠道中;（XIII）管理特许人的关系;（十四）天气状况差的影响; (xv) maintaining or improving production rates in the Company's manufacturing facilities, responding to significant changes in product demand and fulfilling demand for new and existing products; (xvi) changes in the competitive landscape in the Company's markets; (xvii) the Company's non-U.S. operations, including sales to non-U.S. customers; (xviii) the impact from demand changes within world-wide markets associated with homebuilding and remodeling; (xix) potential adverse developments in new or pending litigation and/or government investigations; (xx) changes in the Company's ability to obtain debt on commercially reasonable terms and at competitive rates; (xxi) substantial pension and other postretirement benefit obligations; (xxii) potential environmental liabilities; (xxiii) work stoppages or other labor disruptions; and (xxiv) changes in accounting estimates.

可能导致实际结果与前瞻性陈述实际不同的其他因素载于表格10-k的年度报告，并在“风险因素”下的“危险因素”下的季度报告中，在季度报告中阐述分析经营财务状况及业务成果“以及综合财务报表和相关票据。

在此新闻稿中的前瞻性陈述仅截至此处的日期，并在附加文档中的前瞻性陈述仅截至这些文件的日期。除非法律要求，本公司不承担更新或释放任何向前陈述或报告任何事件或情况的任何义务或释放任何事件或情况的义务。

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