Barnes Group Inc., Bristol, CT, an international aerospace and industrial components manufacturer and logistical services company, reported third quarter 2008 profit of $28.9 million, an 4.6% increase over the prior year third quarter. Sales declined 6.5% for the quarter to $337 million.
For the nine months ended Sept. 30, 2008, sales increased 2.6% to $1.1 billion in a year-over-year comparison. Profit for the period was $97 million, up 15.9%.
Barnes Distribution sales dropped 6.4% to $123.5 million in the third quarter of 2008. Organic sales decreased $9.6 million, or about 7%. Lower sales were driven by softening in the North American transportation and manufacturing-related segments, and lower organic sales in Europe.
Operating profit for the …
Barnes Group Sales Down 6.5% in 3Q
Barnes Group Inc., Bristol, CT, an international aerospace and industrial components manufacturer and logistical services company, reported third quarter 2008 profit of $28.9 million, an 4.6% increase over the prior year third quarter. Sales declined 6.5% for the quarter to $337 million.
For the nine months ended Sept. 30, 2008, sales increased 2.6% to $1.1 billion in a year-over-year comparison. Profit for the period was $97 million, up 15.9%.
Barnes Distribution sales dropped 6.4% to $123.5 million in the third quarter of 2008. Organic sales decreased $9.6 million, or about 7%. Lower sales were driven by softening in the North American transportation and manufacturing-related segments, and lower organic sales in Europe.
Operating profit for the …
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