Despite reporting a 60-per-cent earnings drop, tool manufacturer Black & Decker remained in the black and Friday screwed up an optimistic outlook for the coming months, reported the dpa. Earnings dropped by 60 per cent to 38 million dollars, while revenues dropped 27 per cent to 1.2 billion dollars due to falling demand in Europe. Black & Decker said it expects earnings to continue to fall in the current quarter, but saw things improving later on. The slowdown in the construction and home improvement sectors amidst the country's worst recession since the 1930s has impacted on Black & Decker sales. The company has kept head above water by streamlining operations and selling off much of its inventory.
