Barnes Distribution Profit Grows
Barnes Distribution Profit Grows
Jason Sandefur
Sales at Barnes Distribution, including fasteners, grew 7% to $453.8 million during 2005, while greater sales volume and improved margins drove operating profit up 53% to $24.6 million.
“Barnes Distribution continues its strategic focus on sales and operational improvements,” said Idelle K. Wolf, president of Barnes Distribution. “With continued distribution network improvements, decreasing distribution costs and service levels sustained at targeted ranges, Barnes Distribution is well positioned to execute its growth initiatives in 2006.”
Fourth quarter sales at Barnes Distribution increased 8% to $112.8 million, boosted by increases in the U.S., Canadian and European operations. Q4 operating profit jumped to $5.3 million from $1.4 million due to cost decreases and improved margins.
Overall Barnes Group Inc. sales grew 11% to a record $1.1 billion, surpassing the billion-dollar mark for the first time in the company’s 148-year history. Net income increased 46% to $54.3 million. Web: barnesgroupinc.com �2006 FastenerNews.com
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