Barnes Sees Record Sales
April 22
00:00
2005
Barnes Sees Record Sales
Jason Sandefur
Barnes Group reported sales at Barnes Distribution during the first quarter of 2005 grew 7% to a record $113.6 million, while operating profit jumped 47% to $5.9 million. Profit was improved by higher sales volume and increased pricing, the company stated.
“Barnes Distribution’s results reflect the positive effects of the [Kar Products’] integration and the continuous progress we are making in improving customer service and key performance levels,” said Keith Drewett, president of Barnes Distribution.
Overall Q1 sales gained 11% to $273.7 million, while net income increased 33% to $12.8 million. Web: barnesgroupinc.com �2005 FastenerNews.com
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