Snap-on Inc. (NYSE: SNA), Kenosha, WI, reported sales for the third quarter of $821.5 million, an increase of 1.9 percent year-over-year. Profit increased 12.6 percent to $116.8 million.
For the first nine months, sales were $2.5 billion, up 3.3 percent over the prior-year period. Profit increased 13.6 percent to $347.3 million.
Commercial and industrial group segment sales of $288.5 million in the quarter decreased 3.4 percent from the prior year period, as sales gains in the segment’s European-based hand tools business and its Asia/Pacific and power tools operations, were partially offset by lower sales to the military and to customers in the oil and gas sector.
Snap-on Tools group segment sales of $380.6 million in the quarter rose 7.2 percent from, reflecting similar sales increases in both the company’s U.S. and international franchise operations.
Repair systems and information group segment sales of $282.9 million in the quarter increased 4.3 percent year-over-year, reflecting increased sales to OEM dealerships, higher sales of undercar equipment, and gains in sales of diagnostic and repair information products to independent repair shop owners and managers.
