Snap-on Inc. (NYSE: SNA), Kenosha, WI, a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems, reported sales of $697.2 million in the third quarter 2011, up 6.8 percent from 2010 levels; excluding $19.6 million of favorable foreign currency translation, organic sales increased 3.6 percent.
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Profit was $67.8 million.
"We are pleased with our results for the third quarter, which we believe provide further evidence of the progress being made along each of our runways for coherent growth: enhancing the franchise network, expanding in the vehicle repair garage, extending to critical industries and building in emerging markets," said Nick Pinchuk, Snap-on CEO.
Commercial & Industrial Group segment sales of $278.3 million in the third quarter increased 6.6 percent from 2010 levels; excluding $10.2 million of favorable foreign currency translation, organic sales were up 2.6 percent.
Operating earnings were $29.6 million.
Snap-on Tools Group segment sales of $279.6 million in the third quarter rose 8.1 percent from 2010 levels; excluding $5 million of favorable foreign currency translation, organic sales for the Group increased 6 percent.
Operating earnings were $35.6 million.
Repair Systems & Information Group segment sales of $222.6 million in the third quarter increased 7.3 percent from 2010 levels; excluding $5.2 million of favorable foreign currency translation, organic sales rose 4.7 percent.
Operating earnings were $43.7 million.