Snap-on caps strong year

Kenosha-based Snap-on Inc. reported fourth quarter net earnings of $84.6 million, or $1.43 per diluted share, up 13.9 percent from $74.3 million in the fourth quarter of 2011.

Sales for the quarter were up 2.3 percent to $753.2 million. For all of 2012, the company reported net earnings of $306.1 million, up 10.8 percent, and net sales of $2.94 billion, up 2.9 percent.

“In the fourth quarter and throughout 2012, we continued to progress in those strategic areas of importance that we’ve identified as being decisive to our future, while achieving higher year-over-year sales and operating income despite ongoing macroeconomic and political headwinds impacting specific parts of our business,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “As we move forward in 2013, we believe we will make continued advancements along our coherent runways for growth.”

Snap-on is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users.

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