Barnes Group Inc. (NYSE: B), Bristol, CT, an international industrial and aerospace manufacturer and service provider, reported sales for the third quarter of $317.7 million, an 18 percent increase year-over-year. Organic sales increased 8 percent. The company reported a profit of $33.9 million, compared to a profit of $20.9 million in the third quarter of 2013.
Aerospace sales were $110.4 million, up 9 percent year-over-year. Industrial sales were $207.2 million, up 24 percent, with organic sales up 7 percent.
“Our industrial and aerospace segments each delivered high-single digit organic growth and orders in the quarter were solid, which supports an improved outlook for 2014 and positive momentum heading into 2015,” said President and CEO Patrick J. Dempsey, President and Chief Executive Officer of Barnes Group Inc.
Year-to-date sales were $951.8 million, up 18.9 percent over the prior-year period. The company reported a profit of $86.6 million over the first nine months of the year, compared to a profit of $243.7 million in the first nine months of 2013.