May 9, 2007
Profits soar at Barnes
First quarter profits jumped 50 percent at Bristol-based Barnes Group Inc. to $28 million, up from $19 million a year ago. Earnings per share jumped to 53 cents from 38 cents, and earnings per diluted share were 50 cents, up from 36 cents a year ago. All three division of the aerospace and industrial conglomerate saw their sales increase, as total revenue rose 20 percent to $361 million. Barnes raised its earnings guidance for the year to between $1.74 and $1.83 per share, up from the $1.53 to $1.60 per share range.
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