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Stanley Works reaffirms 2008 guidance

Stanley Works, a supplier of industrial tools and security products, on Thursday reaffirmed 2008 earnings growth of between 5 percent and 10 percent.
/ Source: The Associated Press

Stanley Works, a supplier of industrial tools and security products, on Thursday reaffirmed 2008 earnings growth of between 5 percent and 10 percent.

The company anticipates full-year earnings of between $4.20 and $4.40 per share. In 2007, Stanley Works recorded earnings of $4 per share.

Analysts polled by Thomson Financial, on average, estimate earnings of $4.30 per share.

Stanley Works also reaffirmed its long-term objectives of 10 percent annual sales growth and earnings-per-share growth in the mid-teens.

Shares fell 28 cents to $50.13 in midday trading.