Barnes Group sales decline 4 percent
Barnes Group Inc. reported fourth-quarter 2019 net sales of $370 million were down 4 percent from $384 million in the prior year period.
Organic sales declined 4 percent, acquisition sales contributed 1 percent, while foreign exchange negatively impacted sales by 1 percent.
Net income for the quarter was $41.0 million, or 80 cents per diluted share, compared to $38.8 million, or 75 cents, a year ago.
For the full year, net sales of $1.491 billion were down slightly from $1.496 billion in the prior year. Full year organic sales were down 2 percent, acquisitions provided a 4 percent sales lift, while unfavorable foreign exchange was 2 percent.
Net income for the year was $158.4 million, or $3.07 per diluted share, compared to $166.2 million, or $3.15 per diluted share, a year ago.
For the fourth quarter, Industrial segment sales were $230.9 million, down 9 percent from $255.1 million in the prior year period.
Aerospace segment sales were $139.3 million, up 8 percent from $129.1 million in the same period last year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
