Barnes Group Inc. (NYSE: B), Bristol, CT, which has agreed to sell its North American distribution business to MSC Industrial Direct Co., released results for 2012. Sales were $1.2 billion, an increase of 5.2 percent from 2011. Profit jumped 47.2 percent to $95.2 million.
Fourth-quarter sales for the group were $327.4 million, a 15.6 percent increase compared to the same period a year earlier. Profit was $29.7 million, compared to a year-ago profit of $100,000.
2012 sales for Barnes' distribution segment were $350.7 million, a decrease of 1 percent from 2011. Fourth-quarter sales for the segment declined 4 percent to $79.7 million.
Annual sales for Barnes' industrial segment were $497 million, an increase of 13 percent from 2011. Fourth-quarter sales jumped 44 percent to $147.6 million.
Aerospace segment sales for 2012 were $390.5 million, an increase of 2 percent from 2011. Fourth-quarter sales increased 2 percent year-over-year to $101.1 million.
