Snap-on sales up by 8.2 percent
Snap-on Incorporated reported second-quarter sales of $826.5 million increased 8.2% from 2013 levels.
Excluding $10.5 million of acquisition-related sales and $1.4 million of favorable foreign currency translation, organic sales increased 6.6%.
Net earnings of $106.1 million, or $1.80 per diluted share, compares with net earnings of $88.4 million, or $1.50, a year ago.
Commercial & Industrial Group segment sales of $287.2 million in the quarter increased 7.9% from 2013 levels, primarily due to higher volume with customers in critical industries and in the segment’s European-based hand tools business.
Snap-on Tools Group segment sales of $369.1 million rose 6.6%, reflecting sales increases in both the company’s U.S. and international franchise operations.
Repair Systems & Information Group segment sales of $278.5 million increased 13.1%, primarily due to higher sales to OEM dealership service and repair shops, and increased sales of diagnostic and repair information products to independent repair shop owners and managers.
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.
