Black & Decker Corp.: The Towson, Md.,...
From Times Staff and Wire Reports
Black & Decker Corp.: The Towson, Md., maker of power tools said earnings for fiscal year 1989 totaled $30 million, down 69% from the $97-million profit of a year ago. Sales rose 40% to $3.2 billion, primarily because of the company’s acquisition of Emhart Corp. Excluding Emhart, sales increased 11%. The company said the lower earnings reflected higher interest expense and other effects of the acquisition.
