Snap-on sales up 8.4 percent
Snap-on Inc. reported net sales of $903.8 million increased 8.4 percent from 2016 levels, reflecting a 2.3 percent organic sales gain.
Net earnings were $133.4 million, or $2.29 per diluted share, compared to net earnings of $131.7 million, or $2.22 per diluted share a year ago.
Commercial & Industrial Group segment sales of $314.6 million in the quarter increased 8.7 percent from 2016 levels, reflecting reflecting a $0.6 million, or a 0.2 percent organic sales gain, $22.7 million of acquisition-related sales, and $2.0 million of favorable foreign currency translation.
Snap-on Tools Group segment sales of $392.7 million in the quarter decreased 1.1 percent, reflecting a $6.5 million, or 1.6 percent, organic sales decline, partially offset by $2.0 million of favorable foreign currency translation. The organic sales decrease includes lower sales in the company’s U.S. franchise operations, partially offset by gains in the international franchise operations.
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.
