Snap-On posts 39 percent jump in 4Q |
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Thu, 01 Feb 2007 14:20
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KENOSHA, Wis. (AFX) - Professional tool and equipment maker Snap-On Inc. said Thursday its fourth-quarter profit rose 39 percent on a jump in revenue across all its segments.The company earned $38 million, or 64 cents per share, compared with $27.4 million, or 47 cents per share, for the same quarter in 2005. Revenue rose 16 percent to $656 million from $563.4 million in the year-ago period.The results beat Wall Street predictions. Analysts polled by Thomson Financial had expected a profit of 51 cents per share on $610.7 million in revenue.Snap-On credited positive momentum from the company's supply chain and franchise improvement initiatives resulting in improved order-fill rates and increased sales and profitability across all operating segments.For the full year 2006, Snap-On earned $100.1 million, or $1.69 per share, compared with $92.9 million, or $1.59 per share, for the same quarter in 2005. Revenue rose to $2.47 billion from $2.31 billion.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Snap-On 4Q profit up 