Snap-on Inc., Kenosha, WI, manufacturer and marketer of tools, diagnostics and equipment solutions for professional users, reported sales in the third quarter 2007 were $680.7 million, up 14.5% over the prior-year period.
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Sales include $48.6 million from the November 2006 acquisition of Business Solutions and $19.3 million of currency translation. Partially offsetting the sales increase was $22.5 million of lower sales from the wind down of an OEM facilitation program.
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Profit was $41.1 million.
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Tools Group segment sales of $262 million increased 7.4%, from prior-year levels, including a 5.4% increase in North America. Sales in the company’s international franchise operations increased 15.4%, primarily due to continued strong sales growth in the UK and Australia.
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Commercial & Industrial Group segment sales of $327.9 million were up 14.3% largely due to higher industrial sales, increased sales of professional tools and equipment in Europe, and continued strong sales growth in emerging markets. Excluding $12.1 million of currency translation, year-over-year organic sales growth was 10.1%.