Snap-on Inc. reports robust quarter

Snap-on Inc., a Kenosha-based global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users, reported second quarter net earnings of $78.0 million, or $1.33 per share, up from $45.3 million, or 78 cents per share, in the same period a year ago.
The company’s quarterly sales grew 12.2 percent to $726.7 million
"We are pleased with our financial results for the second quarter, which we believe further illustrate the strength of Snap-on’s value proposition to professional users performing critical tasks," said Nick Pinchuk, Snap-on chairman and chief executive officer. "As evidenced by the sales increases in the quarter, we continue to make substantial progress on our runways for coherent growth, and the improvement in our year-over-year operating income margin provides further testament to the power of Snap-on’s Value Creation Processes. As always, I thank our franchisees and associates worldwide for their ongoing dedication and contributions."