Barnes Group tops 4Q profit forecasts

BRISTOL, Conn. (AP) _ Barnes Group Inc. (B) on Friday reported fourth-quarter earnings of $36.7 million.

On a per-share basis, the Bristol, Connecticut-based company said it had profit of 67 cents.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The aerospace and industrial parts supplier posted revenue of $324.2 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $330.4 million.

For the year, the company reported profit of $135.6 million, or $2.48 per share. Revenue was reported as $1.23 billion.

Barnes Group expects full-year earnings in the range of $2.61 to $2.76 per share.

Barnes Group shares have climbed almost 2 percent since the beginning of the year. The stock has climbed 56 percent in the last 12 months.


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Keywords: Barnes Group, Earnings Report