Barnes Group Inc. (NYSE: B), Bristol, CT, an international industrial and aerospace manufacturer and service provider, reported sales for 2014 of $1.3 billion, up 15.6 percent from the prior year. Organic sales growth was 6 percent while acquisitions contributed 10 percent. Profit for the year decreased 56.2 percent to $118.4 million.
Fourth quarter sales were $310.2 million, an increase of 6.5 percent compared to the same period the previous year, driven by organic sales growth of 6 percent and one additional month of acquisition revenues from the Männer business versus the prior year period. Profit for the quarter increased 17.5 percent to $31.5 million.
Industrial sales for the fourth quarter were $198.2 million, up 7.9 percent compared to the same quarter a year ago, and full year sales were $822.1 million, up 19.6 percent compared to 2013. Aerospace sales were $112 million in the fourth quarter, up 4.3 percent year-over-year, and full year sales were up 8.9 percent from the prior year to $440 million.
“Our relentless focus on driving differentiated industrial technologies and innovative solutions to the customers and end markets we serve is fueling our growth engine and we look forward to carrying that momentum into 2015,” said Patrick J. Dempsey, president and CEO.