Snap-on sales dip by 0.7 percent
Snap-on Incorporated reported sales of $851.7 million in the fourth quarter decreased $5.7 million, or 0.7%, from 2014 levels.
Organic sales increased $25.3 million or 3.1%.
Fourth quarter net earnings of $131.4 million, or $2.22 per diluted share, compared to net earnings of $116.2 million, or $1.97 per diluted share, a year ago.
Full year sales of $3.5 billion increased 2.3% from 2014 levels; organic sales increased 7.1%. Full year net earnings of $478.7 million, or $8.10 per diluted share, compared to net earnings of $421.9 million, or $7.14 per diluted share, last year.
Commercial & Industrial Group segment sales of $281.8 million in the quarter decreased $16.4 million, or 5.5%, from 2014 levels.
Snap-on Tools Group segment sales of $411.2 million in the quarter rose $23.7 million, or 6.1%, from 2014 levels, reflecting sales increases in both the company’s U.S. and international franchise operations.
Repair Systems & Information Group segment sales of $280.6 million in the quarter decreased $2.2 million, or 0.8%, from 2014 levels.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
