Barnes Group Inc. (NYSE: B), Bristol, CT, reported fourth-quarter sales of $384 million, up 3 percent compared to the fourth quarter of 2017. Net income for the fourth quarter was $38.8 million, compared with a net loss of $59.2 million a year ago.
The company said it saw record orders in 2018, driven by strength in its aerospace business. Fourth-quarter sales in the aerospace business grew 9 percent while full-year sales grew 8 percent. In comparison, the company’s industrial business showed slight sales growth in the fourth quarter and 2 percent sales growth for the year, the company said.
For the full year, Barnes Group reported sales of $1.5 billion, up 4 percent compared with 2017. Net income for the year was $166.2 million, compared to $59.4 million a year ago.