Snap-On reported Q1/17 net sales of $887.1 million increased $52.9 million, or 6.3% from 2016 levels, reflecting a $33.4 million or 4.1% organic sales gain and $29.1 million of acquisition-related sales, partially offset by $9.6 million of unfavorable foreign currency translation. Net earnings of $141.6 million in Q1/17 were up 10.4% from $128.3 million for the same quarter in 2016.
The following information on Financial Services was excerpted from the Snap-on news release:
A choice of law clause in a commercial contract chosen by the parties is generally enforced. In Nedlloyd Lines B.V. v. Superior Court,1 the California Supreme Court concluded that choice of law provisions in a parties contract were enforceable. This... read more
MONITOR: Last year, many businesses chose to defer equipment acquisitions due to the uncertainty that characterized the year. How did this affect your vendor business in 2016? BERG: We definitely saw deferment of equipment acquisitions in the U.S., with new... read more