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%. …
Snap-On 4Q Profit Up 2.3%
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%. …
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