Snap-on Sales Increase 4% in 2013

Snap-on profit up 14.4% for the year.

Snap-on Inc. (NYSE: SNA), Kenosha, WI, reported full year sales for 2013 of $3.1 billion, an increase of 4 percent from the previous year, with organic sales up 3.5 percent. Profit increased 14.4 percent to $350.3 million.

Sales for the fourth quarter were $797.5 million, an increase of 5.9 percent year-over-year, with organic sales up 4.6 percent. Profit increased 11.7 percent to $94.5 million.

Commercial and industrial group sales for the quarter increased 2.8 percent year-over-year, with organic sales up 3.8 percent. Snap-on tools group sales were up 9.2 percent, with organic sales increasing 10.2 percent. Repair systems and information group sales increased 9.5 percent in the quarter, with organic sales up 2.9 percent. 

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