Snap-on Announces Second-Quarter 2004 Results - aftermarketNews

Snap-on Announces Second-Quarter 2004 Results

Snap-on has announced results for the second quarter of 2004. The company reported diluted earnings per share were 38 cents, the same as they were a year ago.

KENOSHA, Wis. — Snap-on has announced results for the second quarter of 2004. The company reported diluted earnings per share were 38 cents, the same as they were a year ago.

Operating earnings were $40.8 million compared with $40.7 million a year ago. Second-quarter 2004 operating earnings include $5.7 million of costs for continuous improvement and related actions and a previously disclosed charge of $3.6 million associated with two U.S. General Services Administration (GSA) contracts. In the year-ago period, Snap-on had costs for continuous improvement actions of $3 million.

Net sales increased to $591.3 million compared with $565.2 million in the prior year, up $26.1 million. Of the improvement, $15.5 million was due to currency translation, and $10.6 million was from organic sales growth.

Cash flow from operating activities was $57.8 million in the quarter compared with $37 million for the year-ago period. After financing and investing activities, including $10 million for capital expenditures and returning $34.3 million to shareholders through share repurchases and dividends, cash increased $19 million in the second quarter.


Click here to view the rest of today’s headlines.

You May Also Like

Asahi Kasei Announces Future L-I Battery Separator Plant

The lithium-ion battery separator plant will be constructed in Port Colborne, in the Niagara region of Ontario, Canada.


Asahi Kasei announced it will construct its previously announced integrated lithium-ion battery (LIB) separator plant in Port Colborne, which is in the Niagara region of Ontario, Canada. The new manufacturing facility will operate as Asahi Kasei Battery Separator Canada and is expected to create highly skilled, good-paying jobs in manufacturing and construction, according to the latest press information. The start of commercial production is currently slated for 2027.

ENNOVI Achieves EcoVadis Platinum Sustainability Rating

Earning the Platinum Medal for the fourth year ranks ENNOVI in the top 1% of companies for sustainability in 2023.

Rematec Updates Floor Plan for Amsterdam 2025

The event will highlight innovation and sustainability in the automotive aftermarket, focusing on connected vehicles and remanufacturing advancements.

NexaMotion Group Announces New Location in Florida

Through the new Tampa, FL, facility, Transtar will offer an extended product catalog for foreign and domestic applications.

MEMA Aftermarket Suppliers Launches Council of Remanufacturing Excellence

CoRE brings together the expanded resources of MEMA Aftermarket Suppliers and two peer group councils: Remanufacturing Business Council and Remanufacturing Technology & Operations Council.

MEMA Aftermarket Suppliers Announces Reman Roadshow, Annual Conference

Other Posts

PRT Launches 59 New Complete Strut Assemblies

Extending PRT’s product portfolio in North America, the new release represents nearly 12M vehicles in new coverage.

SMP Releases 2023 Corporate Sustainability Report

The report provides insight into the company’s initiatives, future goals and achievements, Standard Motor Products said.

Mullen Continues Commercial EV Dealer Expansion in Midwest

New franchise partners Ziegler Truck Group and Range Truck Group will focus on the Pacific Northwest and upper Midwest regions of the U.S.

Aftermarket Data Standards – Beyond ACES

To remain relevant and valuable, the industry standards will continue to evolve and grow. They will never be finished, Scott Luckett affirmed.