Before you begin reviewing this website, please remember that we changed our name
from The Stanley Works to Stanley Black & Decker, Inc. (the "Company") in connection
with our acquisition of The Black & Decker Corporation in March 2010. This website
does not include results from the Black & Decker business because the financial
statements and other information contained herein pre-date the Black & Decker acquisition.
If you wish to see historical information about Black & Decker, you can download
the Black & Decker 2009 Annual Report on Form 10-K.
Cautionary Statements Under the Private Securities Litigation Reform Act of 1995
Statements on this website, including statements made in the Company's materials
linked to this website, that are not historical, including, but not limited to,
those that often contain words such as "expect," "anticipate," "intend," "plan,"
believe," "seek," "see," or "will," are "forward-looking statements" and subject
to risk and uncertainty. The results that are expressed or implied in such statements
are based on expectations at the time the statements were made and involve inherent
risks and uncertainties that could delay, divert, or change any of such statements,
and could cause actual outcomes and results to differ materially from those expectations.
In addition to the risks, uncertainties and other factors set forth or referred
to under Item 1A Risk Factors of the Company's 2009 Annual Report on Form 10-K,
Item 1A Risk Factors of Black & Decker Corporation's 2009 Annual Report on Form
10-K, and any material changes thereto set forth in any subsequent Quarterly Reports
on Form 10-Q, those contained in the Company's Registration Statement on Form S-4
concerning risk factors related to the Company following its combination with Black
& Decker, and those contained in the Company's other filings with the Securities
and Exchange Commission, the risks, uncertainties and other factors that could cause
or contribute to actual results differing materially from those expressed or implied
in the forward-looking statements include, without limitation: the success of the
Company's marketing and sales efforts; the ability of the Company to maintain or
improve production rates in the Company's manufacturing facilities, respond to significant
changes in product demand and fulfill demand for new and existing products; the
Company's ability to continue improvements in working capital through effective
management of accounts receivable and inventory levels; the ability to continue
successfully managing and defending claims and litigation; the success of the Company's
efforts to mitigate any cost increases generated by significant Chinese Renminbi
or other currency appreciation; the geographic distribution of the Company's earnings;
the commitment to and success of the Stanley Fulfillment System; successful integration
of businesses and acquisitions; the continued acceptance of technologies used in
the Company's products and services; the Company's ability to manage existing franchisee
and distributor relationships; the Company's ability to minimize costs associated
with any sale or discontinuance of a business or product line, including any severance,
restructuring, legal or other costs or asset impairments; the proceeds realized
with respect to any business or product line disposals; the success of the Company's
efforts to manage, including the ability to sustain or increase prices to mitigate,
freight costs, steel, energy, non-ferrous and other commodity costs and any inflation
increases; the Company's ability to generate free cash flow and maintain a strong
debt to capital ratio; the Company's ability to identify and effectively execute
productivity improvements and cost reductions, while minimizing any associated restructuring
charges; the continued ability of the Company to access credit markets under satisfactory
terms; and the Company's ability to negotiate satisfactory payment terms under which
the Company buys and sells goods, services, materials and products.
The Company's ability to achieve results expressed or implied in the forward-looking
statements will also be affected by external factors. These external factors include:
pricing pressure and other changes within competitive markets; the continued consolidation
of customers particularly in consumer channels; inventory management pressures on
the Company's customers; the impact the tightened credit markets may have on customers
or suppliers; the extent to which the Company has to write off accounts receivable
or assets or experiences supply chain disruptions in connection with bankruptcy
filings by customers or suppliers; increasing competition; changes in laws, regulations
and policies that affect the Company, including, but not limited to trade, monetary,
tax and fiscal policies and laws; the timing and extent of any inflation or deflation
in 2010; currency exchange fluctuations; the impact of dollar/foreign currency exchange
and interest rates on the competitiveness of products and the Company's debt program;
the strength of the U.S. and European economies; the extent to which world-wide
markets associated with homebuilding and remodeling stabilize and rebound; the impact
of events that cause or may cause disruption in the Company's manufacturing, distribution
and sales networks such as war, terrorist activities, and political unrest; and
recessionary or expansive trends in the economies of the world in which the Company
operates, including, but not limited to, the extent and duration of the current
recession in the U.S. economy.
The Company undertakes no obligation to publicly update or revise any forward-looking
statements to reflect events or circumstances that may arise after the date hereof.