Stanley Black & Decker revenues surge

NEW BRITAIN, Conn. — Stanley Black & Decker reported a surprise spike of 17% in its revenue, while raising its outlook for the year. Volume growth and pricing boosted gains as currency headwinds began to ease. The company now expects to earn between $6.20 and $6.40 per share this year, a hike from its previous guidance of $6 to $6.20. Profits for the quarter totalled $189.4 million, or $1.28 a share, an increase from $162.3 million, or $1.04 a share, a year ago. Sales rose 1.6% to $2.67 billion. Analysts  surveyed by Thomson Reuters anticipated earnings of $1.14 a share on $2.57 billion in revenue.