On Monday, Black & Decker Corp., while considering operating margin and a lower tax rate, enhanced its third-quarter profit outlook.

Now, the power toolmaker hopes earnings of nearly 91 cents per share, higher notably from its initial profit forecast of 35 cents to 45 cents per share. As per Black & Decker, the lower tax rate is expected to add nearly 14 cents per share to its performance.

A poll conducted by a well known newspaper specifies that analysts hope to see third-quarter profit of 45 cents per share. Normally, the estimates by analysts exclude one time items.

The company declared that it might forward a sales decline of 23 percent for the quarter, in spite of what Black & Decker called "better-than-expected sales."

A statement issued by Chairman and CEO Nolan Archibald said, "Sales were modestly better than we had anticipated, due largely to earlier-than-expected shipments during the quarter of promotional items in the U.S. industrial power tools and accessories business, which were previously anticipated to occur in the fourth quarter."

He also informed that the favorable currency translations also helped the company.

On 22nd October, Black & Decker is mulling to report results. Stock price witnessed decent rally after the positive guidance.