Barnes Distribution Sales Rise 8% in 2005
Barnes Group Inc., Bristol, CN, saw its 2005 sales surpass $1 billion for the first time, up 11% to $1.1 billion. Adjusted net income increased 46% to $54.3 million for 2005.
Sales for the fourth quarter were $276.4 million, up 10% from $251.6 million in the fourth quarter 2004. Adjusted net income increased 79 percent to $12.0 million in the fourth quarter 2005.
Sales at Barnes Distribution were $112.8 million for the fourth quarter 2005, up 8% from $104.2 million in the same quarter last year. Driving this growth were increases in U.S., Canadian and European operations as well as Raymond Distribution. Barnes Distribution Raymond and Barnes Distribution Europe included the third quarter acquisitions of Service Plus Distributors, Inc. and Toolcom Supplies ...