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KENOSHA, Wis., February 5, 2015 -- Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced 2014 operating results for the fourth quarter and full year.

  • Sales of $857.4 million in the quarter increased $59.9 million, or 7.5%, from 2013 levels; excluding $21.5 million of unfavorable foreign currency translation and $5.7 million of acquisition-related sales,  organic sales increased 9.8%.

  • Operating earnings before financial services of $145.2 million in the quarter improved to 16.9% of sales as compared to $123.6 million, or 15.5% of sales, last year.  

  • Financial services operating earnings in the quarter were $42.2 million on revenues of $59.4 million; originations of $232.2 million in the quarter increased $34.6 million from 2013 levels.

  • Consolidated operating earnings of $187.4 million in the quarter improved to 20.4% of revenues (net sales plus financial services revenue) as compared to $156.6 million, or 18.5% of revenues, last year.

  • The effective income tax rate was 32.1% in the fourth quarters of both 2014 and 2013.

  • Fourth quarter 2014 net earnings of $116.2 million, or $1.97 per diluted share, compared to net earnings of $94.5 million, or $1.60 per diluted share, a year ago.

  • Full year 2014 sales of $3,277.7 million increased 7.2% from 2013 levels; excluding $37.0 million of acquisition-related sales and $25.3 million of unfavorable foreign currency translation, organic sales increased 6.9%.  Full year 2014 net earnings of $421.9 million, or $7.14 per diluted share, compared to net earnings of $350.3 million, or $5.93 per diluted share, last year.

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Events and Presentations

Snap-on Fourth Quarter and Full Year Results Call

2014 Baird Industrial Conference Presentation

Snap-on Third Quarter Results Call Transcript

RBC 2014 Global Industrials Conference Transcript

Jefferies 2014 Global Industrials Conference Transcript

Snap-on Second Quarter Results Call Transcript

2014 Baird Growth Stock Conference Transcript

 

Recent Corporate News

Snap-on Incorporated Declares Quarterly Dividend
February 12, 2015

Snap-on Announces Fourth Quarter and Full Year Results
February 5, 2015

Snap-on Raises Dividend 20.5%
November 6, 2014

 

Annual Report Notice of Annual Meeting 
and Proxy Statement
2014 Annual Report 2015 Proxy Statement
2013 Annual Report 2014 Proxy Statement
2012 Annual Report 2013 Proxy Statement

 

Snap-on Incorporated is the owner of the trademark SNAP-ON registered in the United States and other countries, and also claims rights associated with its unregistered trademarks. ©2015 Snap-on Incorporated; All rights reserved.