UPDATE 1-Snap-On earnings up 39 pct on sales gain

Newswire

NEW YORK, Jan 31 (Reuters) - Tool maker Snap-on Inc. reported on Wednesday a higher-than-expected 39 percent surge in fourth-quarter earnings on gains in sales and said it expects further improvements in 2007. Snap-on earned $38 million, or 64 cents, in the quarter to Dec. 31, compared to $27.4 million, or 47 cents, in the same period a year ago. Sales were $656 million in the quarter, a $92.6 million gain over the period a year ago, "reflecting sales increases across all segments," the ...

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