8/4/2009
NEWS BRIEFS
Barnes Distribution Revenue Slips
Revenue at Barnes Logistics and Manufacturing Services, including fasteners at Barnes Distribution, slipped 27% to $136.6 million during the second quarter of 2009, “driven by declines
across all end markets and throughout North America and Europe.” Segment profit dropped by nearly half to $12.5 million.
During the first six months of 2009 Logistics and Manufacturing Services revenue fell 25% to $279.2 million, while operating profit decreased 46% to $26.9 million.
Overall company revenue dropped 32% to $255.2 million during Q2, with net income declining 68% to $10.4 million.
In early 2009 Barnes Distribution/North America expanded its stainless steel fasteners product line by 50%, stocking 1,200 new fasteners, including hex head cap screws, socket head cap screws, socket set screws, lock washers and machine screws.
Barnes Distribution is an MRO distributor with 1,300 sales employees offering more than 55,000 general-line MRO supplies in 30 countries. ©2009 GlobalFastenerNews.com
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