Snap-on sales increase during fourth quarter

Special to The Freeman

Feb. 5, 2015

KENOSHA — Tool manufacturer and marketer Snap-on Incorporated announced Thursday that its sales increased 7.5 percent during the fourth quarter of 2014 when compared to the same period in 2013.

According to the Kenosha-based company, sales of $857.4 million in the quarter increased by $59.9 million, or 7.5 percent, from 2013 levels. Fourth quarter 2014 net earnings of $116.2 million, or $1.97 per diluted share, compared to net earnings of $94.5 million, or $1.60 per diluted share, a year ago, according to Snap-on.

“Our fourth quarter results, including a 9.8 percent organic increase in net sales, a 140 basis point improvement in operating margin before financial services, and a 23.1 percent gain in diluted earnings per share, represent an encouraging finish to 2014,” said Nick Pinchuk, Snap-on chairman and chief executive officer, in a statement.