Snap-on sales, earnings up in third quarter

Kenosha, Wis.-based Snap-on posted third-quarter earnings of $41.1 million, up 45.7 percent from $28.2 million last year.

The tool manufacturer also saw a 14.5 percent increase in sales to $680.7 million from $594.7 million for the same quarter last year.

Jack Michaels, Snap-on chairman and CEO, said innovation and delivery improvements contributed to the higher results, “allowing us to increasingly capture profitable growth opportunities.”

Snap-on is a manufacturer of tools, diagnostic products and associated equipment.

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