Snap - on says emerging market sales lift 2nd

Tag : Snap On Tools

Analysts polled by Thomson Financial expected a profit of $1.06 pershare.
Growth in emerging markets, higher sales of imaging alignmentsystems, and greater sales of professional tools in Europecontributed to a sales increase in its commercial and industrialgroup. Sales rose nearly 17 percent to $387.7 million, helped by aweak U.S. dollar.
"Despite the continued macroeconomic challenges, the strengthof our global and diverse customer base and the value created byour innovation and rapid continuous improvement processes combinedto deliver significant sales and profit improvements," NickPinchuk, president and chief executive, said in a statement.
The company said it plans to grow its presence in emerging marketsin the Asia-Pacific region and Eastern Europe.