Bristol, CT- based Barnes Group Inc. (NYSE: B), a diversified global manufacturer and logistical services company, reported sales for the first quarter were $318.8 million, an increase of 15 percent over the same period a year ago. Profit increased 61 percent to $19.1 million.
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Logistics and Manufacturing Services first-quarter sales were $150 million, up 11 percent from the same period last year. This growth was driven by strengthening end-market demand in the company’s North American distribution businesses and increased overhaul and repair activity in the aerospace aftermarket business.
Precision Components first-quarter sales were $171.6 million, up 18 percent from the same period last year. This increase was primarily a result of improvements in North American and European industrial manufacturing markets, as well as greater demand from the company’s customers in the transportation industry, including automotive.
