SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 18, 1997
The Stanley Works
(Exact name of registrant as specified in charter)
Connecticut 1-5224 06-058860
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1000 Stanley Drive, New Britain, Connecticut 06053
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(860) 225-5111
Not Applicable
(Former name or former address, if changed since last report)
Exhibit Index is located on Page 4
Page 1 of 17
Item 5. Other Events.
1. On July 18, 1997, the Registrant issued four press
releases.
Attached as Exhibits 20(i-iv) are copies of the Registrant's
press releases. Attached as Exhibit 20(v) are cautionary
statements relating to the disclosure in Item 5, paragraph 2
below and the press release filed as Exhibit 20 (ii) hereto. All
of these Exhibits are incorporated herein by reference.
2. At a meeting with industry analysts on July
18, 1997, the company specified some long range objectives.
These are to grow net sales at about 6-8%, double the annual
industry growth rate; to grow net income at a percentage rate in
the low to mid teens (even through a mild recession such as the
one experienced in 1991-1992); to have operating margin at a
percentage in the mid teens; to have operating cash flow
approximate earnings; to increase the dividend per share to half
the long term growth rate of earnings per share; to reduce the
debt to capital ratio (to position the company for acquisitions);
and to have average return on equity be at a percentage in the
low to mid 20's.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(c) 20(i) Press release dated July 18, 1997
announcing 8.1% increase in dividend
payment.
20(ii) Press release dated July 18, 1997
announcing second quarter earnings.
20(iii) Press release dated July 18, 1997
announcing production and workforce
changes in Central Connecticut.
20(iv) Press release dated July 17, 1997
announcing the closing of a
manufacturing facility in Georgetown,
Ohio.
20(v) Cautionary statements relating to
forward looking statements included in
Item 5, paragraph 2 and Exhibit 20(ii).
Page 2 of 17
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized
THE STANLEY WORKS
Date: July 18, 1997 By: Stephen S. Weddle
Name: Stephen S. Weddle
Title: Vice President, General
Counsel and Secretary
Page 3 of 17
EXHIBIT INDEX
Current Report on Form 8-K
Dated July 18, 1997
Exhibit No. Page
20(i) 5
20(ii) 6
20(iii) 15
20(iv) 16
20(v) 17
Page 4 of 17