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In The News:

Snap-On Sales Grow 12.3% in Third Quarter

Snap-on Inc., Kenosha, WI, (NYSE: SNA), manufacturer of tools, equipment, diagnostics, repair information and systems solutions, reported sales in the third quarter 2010 increased 12.3 percent to $653.1 million from the prior-year period.

Profit was $46.5 million.

Commercial & Industrial Group segment sales of $261 million in the third quarter increased 19.5 percent from 2009. Operating earnings were $30.6 million in the third quarter.

Snap-on Tools Group segment sales of $258.7 million in the third quarter increased 10.8 percent, from 2009 levels. Operating earnings were $28.2 million in the third quarter.

Repair Systems & Information Group segment sales of $207.4 million in the third quarter increased 8.1 percent from 2009, primarily due to higher worldwide sales of equipment, increased essential tool and facilitation program sales, and higher sales of diagnostics and Mitchell1™ information products, partially offset by the anticipated lower electronic parts catalog sales in North America as a result of original equipment manufacturer (OEM) dealership consolidations.

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