Snap-on Inc. (NYSE: SNA), Kenosha, WI, reported first-quarter sales of $827.8 million, an increase of 5.1 percent compared to the same period a year earlier. Profit increased 15.2 percent to $110.5 million.
Commercial and industrial group segment sales of $297.5 million in the quarter increased 2.4 percent from 2014 levels primarily due to higher sales to customers in critical industries and in the segment’s European-based hand tools business.
Snap-on Tools Group segment sales of $378.2 million rose 10.1 percent from 2014 levels reflecting sales increases in both the company’s U.S. and international franchise operations.
Repair systems and information group segment sales of $272.3 million increased 3.7 percent year-over-year primarily due to higher sales to OEM dealerships and gains in sales of diagnostics and repair information products to repair shop owners and managers.
