Stanley Black & Decker, Inc. announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported net sales of $2,791.9 million against $2,394.4 million a year ago. Income from operations was $207.0 million against $199.8 million a year ago. Earnings from continuing operations before income taxes were $176.9 million against $168.6 million a year ago. Net earnings from continuing operations were $174.3 million or $1.05 per diluted share against $139.9 million or $0.83 per diluted share a year ago. Net earnings from continuing operations attributable to common shareowners were $174.8 million or $0.99 per diluted share against $140.4 million or $0.81 per diluted share a year ago. Net cash provided by operating activities was $544.2 million against $353.8 million a year ago. Capital and software expenditures was $105.7 million against $82.4 million a year ago. Normalized earnings from continuing operations before income taxes was $260.5 million against $207.3 million a year ago. Normalized income taxes on continuing operations was $33.4 million against $26.7 million a year ago. Normalized net earnings from continuing operations was $227.6 million or $1.36 per diluted share against $181.1 million or $1.07 per diluted share a year ago. Normalized net cash provided by operating activities was $615.8 million against $533.6 million a year ago. For the year, the company reported net sales of $10,376.4 million against $8,343.9 million a year ago. Income from operations was $893.1 million against $340.4 million a year ago. Earnings from continuing operations before income taxes were $779.8 million against $239.8 million a year ago. Net earnings from continuing operations were $691.2 million or $4.06 per diluted share against $202.1 million or $1.35 per diluted share a year ago. Net earnings from continuing operations attributable to common shareowners were $674.6 million or $3.97 per diluted share against $198.2 million or $1.32 per diluted share a year ago. Net cash provided by operating activities was $998.9 million against $739.3 million a year ago. Capital and software expenditures was $302.1 million against $185.5 million a year ago. Normalized earnings from continuing operations before income taxes was $1,035.7 million against $778.2 million a year ago. Normalized income taxes on continuing operations was $144.9 million against $155 million a year ago. Normalized net earnings from continuing operations was $890.9 million or $5.24 per diluted share against $623.2 million or $4.15 per diluted share a year ago. Normalized net cash provided by operating activities was $1,217.3 million against $1,120.9 million a year ago. The company expects full year 2012 EPS to be in the range of $5.75 - $6.00, excluding M&A related charges, based on the following assumptions: Organic net sales to increase 1-2% from a 2011 pro forma (to include Niscayah) revenue base of $11 billion. This includes the impact of revenue synergies from the Black & Decker merger. As previously communicated, the company expects to realize $115 million in cost synergies related to the Black & Decker merger and $45 million due to the Niscayah acquisition in 2012, which together should drive $0.70 of EPS. The tax rate will be approximately 22-23%, creating a $0.55 headwind compared to the 2011 rate of 14.0%. Interest expense to approximate $130 million.