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Barnes Group Inc. (NYSE: B), Bristol, CT, an international industrial and aerospace manufacturer and service provider, reported sales for 2013 were $1.09 billion, up 18 percent from the prior year. Organic sales growth was 4 percent.
Profit for the year was $270.5 million.
In 2013, Barnes Group divested its distribution business to MSC Industrial Supply.
Patrick J. Dempsey, president and CEO of Barnes Group, said: “Our Aerospace segment is well positioned to deliver on a favorable OEM market and to take advantage of a recovering aerospace aftermarket. And our Industrial segment generated 4 percent organic sales growth and improved profitability in 2013. As we exit 2013 with positive momentum, a record level of backlog, and favorable end-markets, we feel good about the prospects for continued profitable growth in 2014.”
Fourth-quarter 2013 sales increased 13 percent to $291.1 million from $258.2 million in last year’s fourth quarter, driven by organic sales growth of 5 percent and sales contribution from the recently acquired Männer business.
Profit for the quarter was $26.8 million.