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Barnes Group Inc. (NYSE: B), Bristol, CT, an international industrial and aerospace manufacturer and service provider, reported sales for the first quarter of $312.1 million, an 18.4 percent increase year-over-year. Organic sales increased 4 percent. Profit for the quarter increased 68.9 percent to $22.8 million.
“Our individual businesses had varied starts to the year, yet overall results were solid," said Patrick Dempsey, president and CEO. "Additionally, the acquired Männer business delivered an excellent quarter."
Aerospace sales were $108.2 million, up 10.4 percent, with organic sales up 10 percent.
Industrial sales were $203.9 million, up 23 percent, with organic sales flat.The Männer business, acquired in October, provided $38 million of the sales increase.