Barnes Distribution Sales Up 19% in 3Q
Barnes Group Inc., Bristol, CT, sales for the third quarter 2006 were $322 million, up 19% from the same period last year. Profit was up 61% to $18.9 million.
For the nine months ended September 30, 2006, Barnes Group's sales were $930.8 million, up 13%. Net income increased 24% to $55.3 million.
Barnes Distribution sales were $135.4 million in the third quarter 2006, up 19% from the year-ago quarter, including $16.3 million in sales from acquisitions, primarily the KENT acquisition that closed July 31, 2006. Organic sales growth was driven by Barnes Distribution-North America as a result of double-digit sales growth in Corporate Accounts and Tier II relationships.
"Barnes Distribution will continue to focus on improving ...