UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-K/A
                                (AMENDMENT NO. 1)
                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

FOR THE FISCAL YEAR ENDED                                 COMMISSION FILE NUMBER
   December 31, 1997                                              1-1553

                         THE BLACK & DECKER CORPORATION
             (Exact name of registrant as specified in its charter)

           Maryland                                     52-0248090
     (State of Incorporation)            (I.R.S. Employer Identification Number)

        Towson, Maryland                                   21286
(Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code:    410-716-3900

Securities registered pursuant to Section 12(b) of the Act:

      Title of each class              Name of each exchange on which registered
Common Stock, par value $.50 per share           New York Stock Exchange
                                                 Pacific Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:         None
                                                            --------------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding  twelve months (or for such shorter period that the registrant was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes X    No ___

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. (X)

The  aggregate  market value of the voting stock held by  non-affiliates  of the
registrant as of January 30, 1998, was $4,560,898,176.

The number of shares of Common Stock  outstanding  as of January 30,  1998,  was
95,018,712.

The exhibit  index as required by Item 601(a) of  Regulation  S-K is included in
Item 14 of Part IV of this report.

Documents  Incorporated by Reference:  Portions of the  registrant's  definitive
Proxy Statement for the 1998 Annual Meeting of Stockholders  are incorporated by
reference in Part III of this Report.


<PAGE>
                                       2


                 THE BLACK & DECKER CORPORATION AND SUBSIDIARIES

On March 30,  1998,  The Black & Decker  Corporation  hereby  amends  its Annual
Report on Form 10-K for the year ended  December 31, 1997,  to include  Restated
Financial  Data  Schedules  for  the  following  periods  as  a  result  of  the
Corporation's  adoption of Statement of Financial  Accounting Standards No. 128,
Earnings Per Share:

o        Year Ended December 31, 1996.
o        Year Ended December 31, 1995.
o        Quarter Ended March 30, 1997.
o        Quarter Ended June 29, 1997.
o        Quarter Ended September 28, 1997.
o        Quarter Ended March 31, 1996.
o        Quarter Ended June 30, 1996.
o        Quarter Ended September 29, 1996.

Accordingly,  the  undersigned  hereby  amends the  following  items,  financial
statements, exhibits or other portions of its Annual Report on Form 10-K for the
year ended  December 31,  1997,  by deleting  those items in their  entirety and
inserting in their place the following:


ITEM 14.        EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

(a)      List of Financial Statements, Financial Statements Schedules,
         and Exhibits

         (1)  List of Financial Statements
              The following consolidated financial statements of the Corporation
              and its subsidiaries are included in Item 8 of Part II:

                 Consolidated  Statement of Earnings - years ended  December 31,
                 1997, 1996, and 1995.

                 Consolidated Balance Sheet - December 31, 1997 and 1996.

                 Consolidated Statement of Cash Flows - years ended December 31,
                 1997, 1996, and 1995.

                 Notes to Consolidated Financial Statements.

                 Report of Independent Auditors.


         (2)  List of Financial Statement Schedules
              The following financial statement schedules of the Corporation and
              its subsidiaries are included herein.

                 Schedule II - Valuation and Qualifying Accounts and Reserves.

<PAGE>
                                       3



              All other  schedules for which provision is made in the applicable
              accounting  regulations  of the  Commission are not required under
              the related instructions or are inapplicable and, therefore,  have
              been omitted.

         (3)  List of Exhibits
              The  following  exhibits  are either  included  in this  report or
              incorporated herein by reference as indicated below:


              Exhibit No.           Exhibit

              3(a)                  Articles  of  Restatement  of the Charter of
                                    the    Corporation     included    in    the
                                    Corporation's  Quarterly Report on Form 10-Q
                                    for the  quarter  ended June 29,  1997,  are
                                    incorporated herein by reference.

              3(b)                  By-Laws  of  the  Corporation,  as  amended,
                                    included  in  the  Corporation's   Quarterly
                                    Report  on Form 10-Q for the  quarter  ended
                                    September 29, 1996, are incorporated  herein
                                    by reference.

              4(a)                  Indenture dated as of March 24, 1993, by and
                                    between the  Corporation  and Security Trust
                                    Company,  National Association,  included in
                                    the Corporation's Current Report on Form 8-K
                                    filed with the Commission on March 26, 1993,
                                    is incorporated herein by reference.

              4(b)                  Form of  7-1/2%  Notes  due  April 1,  2003,
                                    included in the Corporation's Current Report
                                    on Form 8-K  filed  with the  Commission  on
                                    March 26, 1993,  is  incorporated  herein by
                                    reference.

              4(c)                  Form of 6-5/8%  Notes due November 15, 2000,
                                    included in the Corporation's Current Report
                                    on Form 8-K  filed  with the  Commission  on
                                    November 22, 1993, is incorporated herein by
                                    reference.

              4(d)                  Form  of 7%  Notes  due  February  1,  2006,
                                    included in the Corporation's Current Report
                                    on Form 8-K  filed  with the  Commission  on
                                    January  20,  1994,   is   incorporated   by
                                    reference.

              4(e)                  Indenture  dated as of September 9, 1994, by
                                    and  between  the   Corporation  and  Marine
                                    Midland  Bank,  as Trustee,  included in the
                                    Corporation's  Current  Report  on Form  8-K
                                    filed with the  Commission  on  September 9,
                                    1994, is incorporated by reference.


<PAGE>
                                       4


              4(f)                  Credit Agreement dated as of April 23, 1996,
                                    among  the   Corporation,   Black  &  Decker
                                    Holdings Inc. and Black & Decker, as Initial
                                    Borrowers,  and the  initial  Lenders  named
                                    therein,  as Initial  Lenders,  and Citibank
                                    International  plc, as Facility  Agent,  and
                                    Citibank  International plc and Midland Bank
                                    plc,  as   Co-Arrangers,   included  in  the
                                    Corporation's  Quarterly Report on Form 10-Q
                                    for the  quarter  ended March 31,  1996,  is
                                    incorporated herein by reference.

              4(g)                  Credit Agreement dated as of April 23, 1996,
                                    among  the   Corporation,   Black  &  Decker
                                    Holdings  Inc.,  Black  &  Decker,  Black  &
                                    Decker International Holdings, B.V., Black &
                                    Decker  G.m.b.H.,  Black &  Decker  (France)
                                    S.A.S.,  Black & Decker (Nederland) B.V. and
                                    Emhart Glass S.A., as Initial Borrowers, and
                                    the  initial   Lenders  named  therein,   as
                                    Initial  Lenders,   and  Credit  Suisse,  as
                                    Administrative Agent, and Citibank, N.A., as
                                    Documentation Agent, and NationsBank,  N.A.,
                                    as  Syndication   Agent,   included  in  the
                                    Corporation's  Quarterly Report on Form 10-Q
                                    for the  quarter  ended March 31,  1996,  is
                                    incorporated herein by reference.

              The  Corporation  agrees to furnish a copy of any other  documents
              with respect to long-term debt  instruments of the Corporation and
              its subsidiaries upon request.

              10(a)                 The  Black  &  Decker  Corporation  Deferred
                                    Compensation     Plan    For    Non-Employee
                                    Directors,  as  amended,   included  in  the
                                    Corporation's  Quarterly Report on Form 10-Q
                                    for the quarter  ended  October 2, 1994,  is
                                    incorporated herein by reference.

              10(b)                 The Black & Decker 1986 Stock  Option  Plan,
                                    as amended,  included  in the  Corporation's
                                    Quarterly   Report  on  Form  10-Q  for  the
                                    quarter    ended   March   30,   1997,    is
                                    incorporated herein by reference.

              10(c)                 The Black & Decker 1986 U.K. Approved Option
                                    Scheme,   as   amended,   included   in  the
                                    Corporation's Registration Statement on Form
                                    S-8  (Reg.  No.  33-47651),  filed  with the
                                    Commission on May 5, 1992,  is  incorporated
                                    herein by reference.

              10(d)                 The Black & Decker 1989 Stock  Option  Plan,
                                    as amended,  included  in the  Corporation's
                                    Quarterly   Report  on  Form  10-Q  for  the
                                    quarter    ended   March   30,   1997,    is
                                    incorporated herein by reference.

<PAGE>
                                       5


              10(e)                 The Black & Decker 1992 Stock  Option  Plan,
                                    as amended,  included  in the  Corporation's
                                    Quarterly   Report  on  Form  10-Q  for  the
                                    quarter    ended   March   30,   1997,    is
                                    incorporated herein by reference.

              10(f)                 The Black & Decker  1995 Stock  Option  Plan
                                    for  Non-Employee   Directors,  as  amended,
                                    included  in  the  Corporation's   Quarterly
                                    Report  on Form 10-Q for the  quarter  ended
                                    March 30, 1997,  is  incorporated  herein by
                                    reference.

              10(g)                 The Black & Decker 1996 Stock  Option  Plan,
                                    as amended,  included  in the  Corporation's
                                    Quarterly   Report  on  Form  10-Q  for  the
                                    quarter    ended   March   30,   1997,    is
                                    incorporated herein by reference.

              10(h)                 The Black & Decker  Performance Equity Plan,
                                    as amended,  included  in the  Corporation's
                                    Annual  Report  on Form  10-K  for the  year
                                    ended  December  31, 1996,  is  incorporated
                                    herein by reference.

              10(i)                 The   Black  &   Decker   Executive   Annual
                                    Incentive  Plan,  included in the definitive
                                    Proxy  Statement for the 1996 Annual Meeting
                                    of  Stockholders  of the  Corporation  dated
                                    March 1,  1996,  is  incorporated  herein by
                                    reference.

              10(j)                 The   Black  &  Decker   Management   Annual
                                    Incentive    Plan,     included    in    the
                                    Corporation's Annual Report on Form 10-K for
                                    the  year  ended   December  31,  1995,   is
                                    incorporated herein by reference.

              10(k)                 Amended and Restated  Employment  Agreement,
                                    dated as of November 1, 1995, by and between
                                    the  Corporation  and  Nolan  D.  Archibald,
                                    included in the Corporation's  Annual Report
                                    on Form 10-K for the year ended December 31,
                                    1995, is incorporated herein by reference.

              10(l)                 Letter Agreement, dated February 1, 1975, by
                                    and  between the  Corporation  and Alonzo G.
                                    Decker,  Jr.,  included in the Corporation's
                                    Annual  Report  on Form  10-K  for the  year
                                    ended  December  31, 1990,  is  incorporated
                                    herein by reference.

              10(m)(1)              The  Black  &  Decker  Supplemental  Pension
                                    Plan,   as   amended,    included   in   the
                                    Corporation's Annual Report on Form 10-K for
                                    the  year  ended   December  31,  1991,   is
                                    incorporated herein by reference.


<PAGE>
                                       6


              10(m)(2)              Amendment to The Black & Decker Supplemental
                                    Pension Plan dated as of May 21, 1997.

              10(n)(1)              The  Black  &  Decker   Executive   Deferred
                                    Compensation    Plan,    included   in   the
                                    Corporation's  Quarterly Report on Form 10-Q
                                    for the quarter  ended  October 3, 1993,  is
                                    incorporated herein by reference.

              10(n)(2)              Amendment  to The  Black & Decker  Executive
                                    Deferred  Compensation Plan dated as of July
                                    17,  1996,  included  in  the  Corporation's
                                    Quarterly   Report  on  Form  10-Q  for  the
                                    quarter ended June 30, 1996, is incorporated
                                    herein by reference.

              10(o)(1)              The Black & Decker  Supplemental  Retirement
                                    Savings Plan,  included in the Corporation's
                                    Registration Statement on Form S-8 (Reg. No.
                                    33-65013),  filed  with  the  Commission  on
                                    December 14, 1995, is incorporated herein by
                                    reference.

              10(o)(2)              Amendment to The Black & Decker Supplemental
                                    Retirement  Savings  Plan  dated as of April
                                    22, 1997.

              10(p)                 The  Black & Decker  Supplemental  Executive
                                    Retirement Plan, as amended, included in the
                                    Corporation's Annual Report on Form 10-K for
                                    the  year  ended   December  31,  1995,   is
                                    incorporated herein by reference.

              10(q)                 The Black & Decker  Executive Life Insurance
                                    Program,   as   amended,   included  in  the
                                    Corporation's  Quarterly Report on Form 10-Q
                                    for the  quarter  ended  April 4,  1993,  is
                                    incorporated herein by reference.

              10(r)                 The   Black  &   Decker   Executive   Salary
                                    Continuance    Plan,    included    in   the
                                    Corporation's  Quarterly Report on Form 10-Q
                                    for the  quarter  ended April 12,  1995,  is
                                    incorporated herein by reference.

              10(s)                 Description of the Corporation's  policy and
                                    procedure   for   relocation   of   existing
                                    employees (individual  transfers),  included
                                    in the  Corporation's  Annual Report on Form
                                    10-K for the year ended  December  31, 1991,
                                    is incorporated herein by reference.

              10(t)                 Description of the Corporation's  policy and
                                    procedures  for relocation of new employees,
                                    included in the Corporation's  Annual Report
                                    on Form 10-K for the year ended December 31,
                                    1991, is incorporated herein by reference.


<PAGE>
                                       7


              10(u)                 Description of certain  incidental  benefits
                                    provided  to   executive   officers  of  the
                                    Corporation.

              10(v)                 Form  of  Amendment   and   Restatement   of
                                    Severance  Benefits Agreement by and between
                                    the Corporation and  approximately 19 of its
                                    key employees, included in the Corporation's
                                    Annual  Report  on Form  10-K  for the  year
                                    ended  December  31, 1996,  is  incorporated
                                    herein by reference.

              10(w)                 Amendment  and   Restatement   of  Severance
                                    Benefits  Agreement,  dated January 1, 1997,
                                    by and between the  Corporation and Nolan D.
                                    Archibald,  included  in  the  Corporation's
                                    Annual  Report  on Form  10-K  for the  year
                                    ended  December  31, 1996,  is  incorporated
                                    herein by reference.

              10(x)                 Amendment  and   Restatement   of  Severance
                                    Benefits  Agreement,  dated January 1, 1997,
                                    by and  between the  Corporation  and Joseph
                                    Galli,  included in the Corporation's Annual
                                    Report  on  Form  10-K  for the  year  ended
                                    December 31, 1996, is incorporated herein by
                                    reference.

              10(y)                 Amendment  and   Restatement   of  Severance
                                    Benefits  Agreement,  dated January 1, 1997,
                                    by and between the  Corporation  and Charles
                                    E.  Fenton,  included  in the  Corporation's
                                    Annual  Report  on Form  10-K  for the  year
                                    ended  December  31, 1996,  is  incorporated
                                    herein by reference.

              10(z)                 Amendment  and   Restatement   of  Severance
                                    Benefits  Agreement,  dated January 1, 1997,
                                    by and between the Corporation and Dennis G.
                                    Heiner, included in the Corporation's Annual
                                    Report  on  Form  10-K  for the  year  ended
                                    December 31, 1996, is incorporated herein by
                                    reference.

              10(aa)                Amendment  and   Restatement   of  Severance
                                    Benefits  Agreement,  dated January 1, 1997,
                                    by and between the Corporation and Thomas M.
                                    Schoewe,   included  in  the   Corporation's
                                    Annual  Report  on Form  10-K  for the  year
                                    ended  December  31, 1996,  is  incorporated
                                    herein by reference.

              10(bb)                Letter  Agreement  dated  as of  August  13,
                                    1991,  by and  between the  Corporation  and
                                    Newell Co.,  included  in the  Corporation's
                                    Quarterly   Report  on  Form  10-Q  for  the
                                    quarter ended June 30, 1991, is incorporated
                                    herein by reference.


<PAGE>
                                       8


              10(cc)                Standstill  Agreement  dated as of September
                                    24, 1991, between the Corporation and Newell
                                    Co., included in the  Corporation's  Current
                                    Report on Form 8-K dated September 25, 1991,
                                    is incorporated herein by reference.

              10(dd)                Distribution  Agreement  dated  September 9,
                                    1994, by and between the Corporation, Lehman
                                    Brothers Inc.,  Citicorp  Securities,  Inc.,
                                    Goldman,  Sachs & Co.,  Morgan Stanley & Co.
                                    Incorporated,  NationsBanc  Capital Markets,
                                    Inc. and Salomon Brothers Inc.,  included in
                                    the Corporation's Current Report on Form 8-K
                                    filed with the  Commission  on  September 9,
                                    1994, is incorporated herein by reference.

              10(ee)                Stock   Purchase   Agreement   dated  as  of
                                    December   13,   1995,   by  and  among  the
                                    Corporation,  PRC Investments Inc., PRC Inc.
                                    and Litton Industries, Inc., included in the
                                    Corporation's Annual Report on Form 10-K for
                                    the  year  ended   December  31,  1995,   is
                                    incorporated herein by reference.

              10(ff)(1)             The  Black  &  Decker  1996  Employee  Stock
                                    Purchase  Plan,  included in the  definitive
                                    Proxy  Statement for the 1996 Annual Meeting
                                    of  Stockholders  of the  Corporation  dated
                                    March 1, 1996, is incorporated by reference.

              10(ff)(2)             Amendment   to  The  Black  &  Decker   1996
                                    Employee  Stock Purchase Plan, as adopted on
                                    February   12,   1997,   included   in   the
                                    Corporation's Annual Report on Form 10-K for
                                    the  year  ended   December  31,  1996,   is
                                    incorporated herein by reference.

              11                    Computation of Earnings Per Share.

              12                    Computation of Ratios.

              21                    List of Subsidiaries.

              23                    Consent of Independent Auditors.

              24                    Powers of Attorney.

              27                    Financial   Data   Schedule   -  year  ended
                                    December 31, 1997.

              27(a)                 Restated  Financial  Data  Schedule  -  year
                                    ended December 31, 1996.

              27(b)                 Restated  Financial  Data  Schedule  -  year
                                    ended December 31, 1995.


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                                       9


              27(c)                 Restated  Financial  Data Schedule - quarter
                                    ended March 30, 1997.

              27(d)                 Restated  Financial  Data Schedule - quarter
                                    ended June 29, 1997.

              27(e)                 Restated  Financial  Data Schedule - quarter
                                    ended September 28, 1997.

              27(f)                 Restated  Financial  Data Schedule - quarter
                                    ended March 31, 1996.

              27(g)                 Restated  Financial  Data Schedule - quarter
                                    ended June 30, 1996.

              27(h)                 Restated  Financial  Data Schedule - quarter
                                    ended September 29, 1996.

              All other items are "not applicable" or "none".

(b)      Reports on Form 8-K
         The  Corporation did not file any reports on Form 8-K during the twelve
         month period ended December 31, 1997.

         All other items are "not applicable" or "none".


(c)      Exhibits
         The exhibits required by Item 601 of Regulation S-K are filed herewith.


(d)      Financial Statement Schedules
         The Financial  Statement  Schedule  required by Regulation S-X is filed
         herewith.






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                                       10



           SCHEDULE II--VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
                 THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
                              (Millions of Dollars)


<TABLE>
<CAPTION>

                                           Balance       Additions                                 Other
                                                At         Charged                               Changes          Balance
                                         Beginning        to Costs                                   Add           At End
Description                              of Period    and Expenses          Deductions          (Deduct)        of Period
---------------------------------------------------------------------------------------------------------------------------
<S>                                         <C>             <C>              <C>              <C>                  <C>
Year Ended December 31, 1997
Reserve for doubtful accounts
     and cash discounts                     $ 44.0          $ 70.0           $ 63.8(A)        $ (2.4)(B)           $ 47.8
===========================================================================================================================

Year Ended December 31, 1996
Reserve for doubtful accounts
     and cash discounts                     $ 43.1          $ 58.1           $ 56.7(A)        $  (.5)(B)           $ 44.0
===========================================================================================================================

Year Ended December 31, 1995
Reserve for doubtful accounts
     and cash discounts                     $ 38.2          $ 56.6           $ 52.9(A)        $  1.2 (B)           $ 43.1
===========================================================================================================================
<FN>



 (A) Accounts written off during the year and cash discounts taken by customers.

 (B) Primarily includes currency translation adjustments.

</FN>
</TABLE>


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                                       11



                               S I G N A T U R E S

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  amendment  to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                                  THE BLACK & DECKER CORPORATION


Date:       March 30, 1998               By:  /s/ STEPHEN F. REEVES
       ----------------------                 ----------------------------------
                                                  Stephen F. Reeves
                                                  Vice President and Controller
                                                  (Principal Accounting Officer)