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): March 15, 1999 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) 	 	Page 1 of 9 Pages Item 7.	Financial Statements, Pro Forma Financial 	 Information and Exhibits. (c) 20(i) 	Description of new business segment presentation and discussion of the restated Business Segment Information for fiscal years 1998, 1997 and 1996. (c) 20(ii)	Business Segment Information for fiscal years 1998, 1997 and 1996. (c) 20(iii)	Quarterly Business Segment Information for fiscal year 1998. 			 Page 2 of 9 Pages 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: March 15, 1999 By:		Stephen S. Weddle 						Name:	Stephen S. Weddle 						Title:	Vice President, General Counsel and Secretary 								 	 Page 3 of 9 Pages 				 	EXHIBIT INDEX Current Report on Form 8-K Dated March 15, 1999 				 				Exhibit No. 		Page 20(i) 5 20(ii) 7 20(iii) 9 	 	 Page 4 of 9 Pages 				 Exhibit (20)(i) 	 In 1998 the company adopted Statement of Financial Accounting Standards No. 131, "Disclosures about Segments of a Business Enterprise and Related Information". As a result, the company changed its depiction of operating segments to Tools and Doors. Prior year amounts have been restated for comparability. The Tools segment includes carpenters, mechanics, pneumatic and hydraulic tools as well as tool sets. The Doors segment includes commercial and residential doors, both automatic and manual, as well as closet doors and systems, home decor and door and consumer hardware. The basis of segment reporting is Core Operating Profit, which excludes restructuring charges, restructuring- related transition and other non-recurring costs; segment eliminations are also excluded. 	 	Tools Segment Net sales increased 4% in 1998, due primarily to the growth of the MacDirect venture and acquisitions. Growth in consumer mechanics tools and fastening tools and fasteners also contributed to higher sales. Operating profit increased, although as a percent of sales it was slightly lower than the prior year. Productivity gains from procurement and restructuring initiatives were offset by lower margins and absorption on lower fourth quarter sales and by operating inefficiencies at the Mechanics Tools wrench and socket plants. 	 Net sales increased 2% in 1997 over 1996 with particular strength in fastening tools and fasteners. All product lines experienced sales growth; however, the gains were partially offset by price reductions, particularly in fastening tools. Operating margins increased to 13.7% of sales from 12.4% due to manufacturing efficiencies from higher volume and restructuring savings. 	 	Doors Segment Net sales decreased 4% in 1998 compared to 1997, due to the divestiture in 1998 of the European automatic door business as well as the February 1997 divestiture of the US garage related products business. In addition, all remaining product lines experienced a sales decline except for the automatic door business in the US. Operating margin improved to 9.5%, primarily the result of the divestitures, restructuring initiatives and reduction in material costs. 			 Page 5 of 9 Pages Net sales decreased 7% from 1996 to 1997. The divestiture of the US garage related products business as well as start up difficulties in moving hardware products to a new central distribution facility were the primary contributors. Operating profit improved to 8.1% from 7.9% due to the divestiture and benefits from restructuring initiatives. 				 Page 6 of 9 Pages Exhibit (20)(ii) THE STANLEY WORKS AND SUBSIDIARIES BUSINESS SEGMENT INFORMATION (Unaudited, Millions of Dollars) Industry Segments 1998 1997 1996 Net Sales Tools $2,107.8 $2,023.6 $1,976.2 Doors 621.3 645.9 694.6 Consolidated $2,729.1 $2,669.5 $2,670.8 Operating Profit Tools $ 278.6 $ 276.8 $ 245.1 Doors 58.9 52.6 54.6 Total 337.5 329.4 299.7 Restructuring, transition & other costs (85.9) (320.1) (88.3) Other-net (13.1) (11.3) (14.7) Interest-net (23.1) (16.6) (22.5) Earnings (loss) before income taxes $ 215.4 $ (18.6) $ 174.2 Segment Assets Tools $1,462.9 $1,227.6 $1,256.9 Doors 279.6 291.5 318.0 Total 1,742.5 1,519.1 1,574.9 Corporate assets 190.4 239.6 84.7 Consolidated $1,932.9 $1,758.7 $1,659.6 Capital Expenditures Tools $ 53.1 $ 70.2 $ 81.1 Doors 11.6 13.9 20.9 Depreciation & Amortization Tools $ 57.2 $ 53.5 $ 52.7 Doors 14.2 11.7 13.2 Page 7 of 9 Pages Geographic Areas 1998 1997 1996 Net Sales United States $1,953.4 $1,900.6 $1,909.3 Other Americas 211.9 227.1 209.8 Europe 467.5 423.6 421.8 Asia 96.3 118.2 129.9 Consolidated $2,729.1 $2,669.5 $2,670.8 Long-Lived Assets United States $ 461.1 $ 479.7 $ 544.8 Other Americas 25.4 31.0 33.1 Europe 284.3 159.8 119.4 Asia 41.7 46.8 51.4 Other 34.0 36.1 - Consolidated $ 846.5 $ 753.4 $ 748.7 Page 8 of 9 Pages Exhibit (20)(iii) THE STANLEY WORKS AND SUBSIDIARIES BUSINESS SEGMENT INFORMATION (Unaudited, Millions of Dollars) 1998 First Second Third Fourth Full Qtr Qtr Qtr Qtr Year INDUSTRY SEGMENTS Net Sales Tools $ 512.5 $ 532.7 $ 535.1 $ 527.5 $2,107.8 Doors 159.4 159.1 154.5 148.3 621.3 Consolidated $ 671.9 $ 691.8 $ 689.6 $ 675.8 $2,729.1 Operating Profit Tools $ 67.1 $ 79.2 $ 72.0 $ 60.3 $ 278.6 Doors 15.0 13.9 17.2 12.8 58.9 Total 82.1 93.1 89.2 73.1 337.5 Restructuring, transition & other costs (16.3) (16.3) (25.5) (27.8) (85.9) Other-net (2.8) (4.1) (2.7) (3.5) (13.1) Interest-net (4.8) (5.2) (7.4) (5.7) (23.1) Earnings before income taxes $ 58.2 $ 67.5 $ 53.6 $ 36.1 $ 215.4 GEOGRAPHIC NET SALES United States $ 475.3 $ 502.1 $ 493.8 $ 482.2 $1,953.4 Other Americas 55.5 57.0 51.1 48.3 211.9 Europe 119.9 109.6 118.9 119.1 467.5 Asia 21.2 23.1 25.8 26.2 96.3 Consolidated $ 671.9 $ 691.8 $ 689.6 $ 675.8 $2,729.1 Page 9 of 9 Pages