UPDATE 2-Stanley Works' Q1 profit beats Street view
* Q1 EPS $0.48 from cont ops, incl items
* Q1 revenue $913 mln
* Sees 2009 net/shr $2-$2.50
* Cuts 550 jobs in Q1
April 24 (Reuters) - Tool maker Stanley Works (SWK.N: Cotización) posted adjusted quarterly profit that beat Street estimates, helped by restructuring actions, and said it will consolidate its fastening systems business with consumer tools and storage.
The supplier of tools, hardware and security systems also said it cut 550 jobs during the quarter and initiated an additional cost reduction program of $100 million.
Stanley Works, which did not provide outlook last quarter, said it now has sufficient visibility to provide 2009 earnings and free cash flow outlook.
It sees 2009 earnings of $2 to $2.50 a share, including charges of 42 cents. Analysts were looking for $2.48 a share, before items. Continuación...