Global Fastener News

Barnes Distribution Sales Grow

July 21
00:00 2005

Barnes Distribution Sales Grow

Jason Sandefur

Sales at Barnes Distribution, including fasteners, gained 5.8% to $113.3 million during the second quarter of 2005, driven by “continued emphasis on corporate accounts and Tier II customer relationships.” Operating profit at Barnes Distribution increased 34% to $6.6 million.
“Barnes Distribution continues to see the benefit of its strategic sales focus and distribution network investments,” explained A. Keith Drewett, president of Barnes Distribution. “Service levels remain strong and within targeted ranges and distribution costs are steadily improving.”
Distribution sales for the first six months of 2005 increased 6.25 to $226.95 million, while profit soared 40% to $12.49 million.
Overall Q2 sales at Barnes Group improved 11% to $280.5 million, while net income jumped 66% to $18.7 million. First half sales climbed 115 to $554.3 million, and net income increased 51% to $31.5 million. Web: barnesgroupinc.com �2005 FastenerNews.com

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