• About MDM
  • Cart
  • Terms & Conditions
  • Privacy Policy
  • Cookies Statement
  • News
    • Premium Articles
    • Latest
    • Technology & Digital
    • Mergers & Acquisitions
    • Talent Development
  • Resources
    • Store
      • Market/Economic Data
      • Management
      • Economic Benchmarks for Wholesale Distribution
      • Sales & Marketing
      • Special Reports
      • What Customers Want
    • Conferences
    • Webcasts
    • Podcasts
    • Directories
      • Associations
      • Buying and Marketing Groups
      • Investment Bank Guide for Distributors
    • Free Reports
    • Partners
  • Research
    • 2019 Market Leaders lists
    • MDM Analytics
    • Economic Benchmarks
    • Industry Competitive Landscape
    • White Papers
  • Subscribe
    • MDM Daily Update
    • MDM Premium
    • Podcasts
  • Premium
    • Download The Issue
    • Subscription Renewal
  • Sign In
  • Sign Out
  • My Account
Home » Barnes Group Reports 4Q Loss of $10 Million

Barnes Group Reports 4Q Loss of $10 Million

February 18, 2009
No Comments
Barnes Group Inc., Bristol, CT, recorded a loss of $10 million for the fourth quarter 2008, as compared to profit of $17.6 million for the same period 2007. Sales for the quarter declined 25% to $265.4 million.
 
For the full year, sales were $1.36 billion, down 4% from 2007. Profit was down 14.2% to $87 million.  
 
Fourth quarter sales in Logistics and Manufacturing Services were $146 million, down 16% from the same period last year. Operating profit was $5.4 million, compared with $12.5 million in the fourth quarter of 2007. Sales declines were driven primarily by slowing customer demand in North American and Europe.
 
Full year segment sales were $691.8 million, down 2%.  
 
Precision Component fourth quarter sales dropped 34% in year-over-year comparison to $121.8 million. The segment recorded a loss of $3 million for the quarter. Full year sales declined 6% to $683 million.
 
During the fourth quarter, Barnes Group took significant actions to counter the impact of the downturn in the worldwide economy and credit markets, including realignment of its three-group reporting structure into two global business segments. In addition, the Logistics and Manufacturing Services business exited certain non-core activities within the U.K.
 
Barnes Group Inc. is an international aerospace and industrial components manufacturer and logistical services company.
Industrial Distribution Barnes Group
  • Related Articles

    IDG to Accept Luther King Capital Management's Bid

    3M to Build Coatings Facility in Singapore

    Sandvik Sells Diamond Tool Unit

  • Related Products

    MDM Premium: March 10, 2013 - The Impact of the MSC-Barnes Deal

    Barnes Group Inc. to Acquire Swiss Manufacturer

Post a comment to this article

Report Abusive Comment

Popular Stories

  • Distributors are About to Get Commoditized

  • Distributors Struggle with Online Pricing

  • Finding Your ‘Why It Matters’

  • Convenience Will Deliver Sales and Loyalty

  • What are College Seniors Looking for as They Enter the Distribution Field?

Subscribe to MDM Update Newsletter

Your best source for news and trends in the wholesale distribution industry

Join Today
  • ABOUT MDM
    • About
    • Terms and Conditions
    • Authors
  • HELP
    • My Account
    • Login Help/ Password Reset
    • Research
    • Privacy & Data Act

CONTACT
6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060 
Toll free (888) 742-5060

 

Copyright ©2019. All Rights Reserved

  • Privacy Policy
  • Terms and Conditions