Snap-On posts higher fourth-quarter profit
Jan 30 (Reuters) - Tool maker Snap-On Inc (SNA.N: Quotazione) posted a 51 percent jump in fourth-quarter profit that beat Wall Street's view, as the tool maker's push to tap markets outside the United States yielded strong results.
Snap-On said it earned $57.3 million, or 98 cents per share, compared with $38 million, or 64 cents per share, a year ago. Net sales rose 14 percent to $742.9 million.
Analysts on average had predicted earnings of 82 cents per share, before items, and one analyst was expecting revenue of $706.3 million, according to Reuters Estimates. (Reporting by Aniruddha Basu in Bangalore; Editing by Pratish Narayanan)
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