Barnes Distribution Sales Top $500m

Jason Sandefur

Barnes Distribution sales, including fasteners, climbed 16% to $526.9 million in 2006, while operating profit soared 52% to $31.5 million on the strength of higher sales volume and contributions from acquisitions.
“Barnes Distribution surpassed $500 million in sales for the first time,” stated distribution president Idelle Wolf.
Barnes Distribution sales during the fourth quarter of 2006 increased 26% to $141.6 million, boosted by “broad-based increases in Barnes Distribution North America” and gains in Europe. Barnes Distribution Europe’s Q4 sales were improved by $20.8 million from the second quarter acquisition of KENT.
Q4 operating profit from distribution grew 9% to $4.5 million, which included a $1.5 million boost from selling a facility in Canada and a $1.7 million charge “for the planned closure of a distribution center in France.”
Overall sales in 2006 improved 14% to $1.3 billion, while operating income jumped 57% to $117 million and net income soared 54% to $73.8 million. Web: barnesgroupinc.com �2007 FastenerNews.com