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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 ...

Barnes Group Inc., Bristol, CT, an international aerospace and industrial components manufacturer and logistical services company, reported third quarter 2008 profit of $28.9 million, an 4.6% increase over the prior year third quarter. Sales declined 6.5% for the quarter to $337 million.
 
For the nine months ended Sept. 30, 2008, sales increased 2.6% to $1.1 billion in a year-over-year comparison. Profit for the period was $97 million, up 15.9%.
 
Barnes Distribution sales dropped 6.4% to $123.5 million in the third quarter of 2008. Organic sales decreased $9.6 million, or about 7%. Lower sales were driven by softening in the North American transportation and manufacturing-related segments, and lower organic sales in Europe.
 
Operating profit for the ...

Barnes Group Inc., Bristol, CT, aerospace and industrial components manufacturer and distributor, reported second quarter 2008 revenues were up 6% to $382.9 million driven by strong demand in the aerospace manufacturing and aftermarket businesses and international industrial businesses.
 
Profit was $34.6 million, a 22% increase.

Barnes Aerospace sales were $114.4 million in the second quarter, an increase of 24% from the prior-year period. Second quarter sales reflect growth of 30% in aftermarket sales. Barnes Group reports it remains optimistic about continued growth of the aerospace sector even though industry dynamics including higher fuel prices and recently announced plans to retire older aircraft have created additional levels of caution."
 
Growth ...

Barnes Group Inc., Bristol, CT, aerospace and industrial components manufacturer and distributor, reported third quarter 2007 sales of $360.4 million, an increase of 11.9%.
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The sales increase reflected $25.4 million of organic sales growth primarily at Barnes Aerospace. Acquisition-related growth contributed $6.8 million due to the KENT acquisition within Barnes Distribution. Foreign currency translation favorably impacted sales by approximately $6.2 million in 2007.
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Profit was $27.7 million, up 46.7% from the prior-year period.
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Barnes Aerospace
Barnes Aerospace generated sales of $103.2 million in the third quarter 2007, an increase of 33.6%. The third quarter 2007 sales increase reflects growth of 36.3% in aftermarket sales. ...

Barnes Group Inc., Bristol, CT, has named Patrick J. Dempsey as president of Barnes Distribution. Dempsey was the president of Barnes Aerospace and a vice president of Barnes Group. He replaces Idelle K. Wolf, who is retiring. Dempsey takes the helm immediately.


Dempsey joined Barnes Group in 2000 as president of Barnes Aerospace's Windsor Airmotive Division, its worldwide maintenance and repair operation. In 2003, Mr. Dempsey was named group vice president, operations of Barnes Aerospace. In 2004, the Board of Directors appointed him president of Barnes Aerospace.

Barnes Group consists of three businesses: Barnes Aerospace, Barnes Distribution and Barnes Industrial. It has 65 locations ...

Barnes Group Inc., Bristol, CT, reported sales increased 16% to $360 million in the second quarter ended June 30, 2007. Profit was up 58%.

Sales at Barnes Aerospace were $92.4 million in the second quarter 2007, up 25% as original equipment manufacturer sales of $62.3 million grew 21% and aftermarket sales of $30.1 million were up 36%.
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Sales at Barnes Distribution were $150.7 million in the second quarter of 2007, up 20%, including $22.2 million of incremental sales from the KENT acquisition and organic sales growth of $1.3 million. The modest increase in organic sales is primarily a result of Corporate and Tier II account sales increases of 10% and 24%, respectively. Operating income at Barnes Distribution was $7.5 million in the second quarter, down 16% from ...

The Barnes Distribution business segment of Barnes Group Inc. has opened an international sourcing center in Shanghai, China. The international sourcing center is in the Xujiahui District in Shanghai, the commercial capital of China.

China has a well-established supplier base for key products such as fasteners, electrical components, and various transportation product lines. The Shanghai sourcing center will complement Barnes' previously established sourcing center in Taiwan.

Our continued efforts to service our customers as effectively and efficiently as possible will be enhanced with the opening of the international sourcing center in Shanghai," said Idelle K. Wolf, President, Barnes Distribution. "Our presence in Shanghai will provide a competitive edge for Barnes ...

Barnes Group, Bristol, CT, sales rose 20% to $361 million in the first quarter 2007. Profit was up 50% to $27.7 million from the year-ago period.
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Sales at Barnes Distribution were $152.5 million in the first quarter 2007, up 23% from $124.4 million in the same quarter a year ago, as a result of $22.7 million of incremental sales from the KENT acquisition and organic sales growth of $3.7 million.
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Organic sales grew in large part as a result of price increases and continued growth in Corporate and Tier II accounts. Foreign exchange positively affected sales by $1.7 million in the first quarter 2007.
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Sales at Barnes Aerospace were $91.2 million in the first quarter 2007, up 36% from the same period a year ago as original equipment ...

Barnes Group Inc., Bristol, CT, has renamed its Associated Spring business segment Barnes Industrial. The Barnes Industrial business segment consists of six business units: Precision Forming; Retention Rings; Nitrogen Gas Products; Precision Valves; Engineered Springs; and Plastics. The Associated Spring brand will remain within the Engineered Springs SBU.
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The name change more accurately identifies the end markets and customers of the individual businesses within Barnes Industrial, according to a news release. The change to Barnes Industrial brings the name of the business segment in parallel with Barnes Group Inc.'s other two business segments -Barnes Aerospace and Barnes Distribution.
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Barnes Group is an international aerospace and industrial ...

Barnes Group Inc. announced 2006 sales of $1.3 billion, up 14% from $1.1 billion in 2005. Profit was $73.8 million, up 54% from the year before.

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Sales for the fourth quarter were $328.8 million, up 19% from the prior-year period. Income was $18.5 million, up 83%.

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All three of Barnes' business units recorded double-digit sales growth in the fourth quarter.

Full year 2006 sales at Barnes Distribution were $526.9 million, up 16% from $453.8 million in 2005.

Fourth quarter 2006 sales at Barnes Distribution were $141.6 million, up 26% from the same period last year. Driving the fourth quarter 2006 sales growth were broad-based increases in Barnes Distribution North America, including double-digit increases in ...