Posted July 26, 2010
Snap-on sales up 9.8 percent
Snap-on Incorporated reported second-quarter sales of $647.6 million increased $57.6 million, or 9.8%, from 2009 levels.
Gross profit of $303.8 million improved to 46.9% of sales compared with 43.1% a year ago.
"We're encouraged by the higher sales and operating margins on both a year-over-year and sequential basis, particularly since the shape of the global economic recovery is still not yet fully evident," said Nick Pinchuk, Snap-on chairman and chief executive officer.
Snap-on Tools Group segment sales of $264.5 million in the second quarter increased $21.9 million, or 9.0%, from 2009 levels.
Repair Systems & Information Group segment sales of $205.9 million in the second quarter increased $7.9 million, or 4.0%, from 2009 levels.
