Barnes Group Sales Up 15.9% in Third Quarter - Modern Distribution Management

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Barnes Group Sales Up 15.9% in Third Quarter

Aerospace and industrial segment sales both increased.

Industrial and aerospace manufacturer Barnes Group Inc. (NYSE: B), Bristol, CT, reported sales for the third quarter of $269.5, an increase of 15.9 percent compared to the same period a year ago. Profit increased 13.1 percent to $20.9 million.

Aerospace sales in the third quarter were $101.7 million, up 3 percent from the same period last year. A sales increase in original equipment manufacturing was partially offset by declines in aftermarket repair and overhaul and spare parts sales.

Industrial sales were $167.7 million, up 25 percent from the same period last year. The increase was driven by Synventive’s sales contribution, organic sales growth of 6 percent, and favorable foreign exchange of $500,000.

For the first nine months, sales were $800.4 million, an increase of 19.4 percent compared to the same period a year ago. Profit was $243.7 million, compared to a year-ago profit of $65.5 million.

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