Snap-on Inc. (SNA) posted second-quarter net earnings of $66.9 million or $1.15 per share, compared to $43.8 million or $0.74 per share in the second quarter of 2007.
Net earnings from continuing operations increased to $66.9 million or $1.15 per share from $52.8 million or $0.90 per share in the comparable period of last year.
On average, 4 analysts polled by First Call/Thomson Financial expected earnings per share of $1.06.
Quarterly net sales increased 7.6% to $766.1 million from $711.9 million in the previous year. Excluding currency translations, sales increased 3.1%. Street analysts expected the company to report revenues of $756.77 million.
Looking ahead, Snap-on expects that its sales and earnings for the balance of 2008 will continue to exceed 2007 levels.
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