Barnes Group: 4Q Earnings Snapshot
BRISTOL, Conn. (AP) _ Barnes Group Inc. (B) on Friday reported fourth-quarter profit of $17.7 million.
On a per-share basis, the Bristol, Connecticut-based company said it had profit of 35 cents. Earnings, adjusted for restructuring costs, were 36 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The aerospace and industrial parts supplier posted revenue of $289.1 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $286.7 million.
For the year, the company reported profit of $63.4 million, or $1.24 per share. Revenue was reported as $1.12 billion.
Barnes Group expects full-year earnings in the range of $1.65 to $1.90 per share.
Barnes Group shares have increased 2% since the beginning of the year. The stock has fallen 20% in the last 12 months.