February 3, 2009

Snap-On 4Q Profit Up 2.3%

Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Snap-on Inc., Kenosha, WI, a global manufacturer of tools, diagnostics, equipment, software and services, reported sales for the fourth quarter declined 10.1% to $667.8 million, in a year-over-year comparison. Profit improved 2.3% to $58.6 million.

For 2008, sales were $2.85 billion, down slightly from 2007. Profit increased 30.2% to $236.7 million.

Commercial & Industrial Group fourth quarter sales were $326.8 million, down 11.5% from fourth quarter 2007. Excluding $24.4 million of unfavorable currency translation, sales declined 4.9% year-over-year, primarily due to continued lower sales of professional tools in Europe and lower overall equipment sales worldwide.

Snap-on Tools Group sales of $252.4 million in the quarter declined 7.6%. …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Snap-On 4Q Profit Up 2.3% Read More »

On Renegotiating Contracts, Leases to Cut Costs

Economic Trends, Free, Management, Research & Analytics, Strategy, Subscriber Only / Jenel Stelton-Holtmeier

In today’s conditions, everyone is looking for ways to cut costs. One of the recommendations made by experts is to renegotiate set contracts. (See what Alan Beaulieu had to say on the subject of renegotiation in Economic Forecast Places Start of Recovery in 2010.)

How realistic is this method in cutting costs? According to a recent article on WSJ.com, companies have been able to negotiate savings of up to 15% of their operating costs by renegotiating leases. If you’re a good paying customer, there’s a chance your suppliers will also give you a discount if you agree to terms that can also help them, such as …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

On Renegotiating Contracts, Leases to Cut Costs Read More »

Acquisitions Drive Sales Up For Thomas & Betts

Electrical, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Thomas & Betts Corp.,Memphis, TN , reported sales of $2.5 billion for 2008, up 15.8% over 2007. Profit was $265.3 million, up 44.8%.

The year-over-year increase in sales was driven largely by acquisitions, which accounted for $314 million of the increase. Price increases related to higher commodity and energy costs helped to offset lower underlying sales volumes. Foreign currency benefited sales by approximately $19 million.

Fourth quarter sales were $571.3 million, down 5.2% on a year-over-year basis. The sales decline is largely due to significantly lower sales volumes and the dramatic appreciation of the U.S. dollar versus other global currencies. Profit …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Acquisitions Drive Sales Up For Thomas & Betts Read More »

February 3, 2009

Snap-On 4Q Profit Up 2.3%

On Renegotiating Contracts, Leases to Cut Costs

Acquisitions Drive Sales Up For Thomas & Betts

Register for full access

Learn More about Custom Reports

Request a Market Prospector Demo

Get the MDM Update Newsletter