Operating Margin of 15.7%; Adjusted Operating Margin of 16.1%, up 190 bps
Diluted EPS from Continuing Operations of $0.60, up 28%;
Up 9% to $0.62 on an Adjusted Basis
Full Year 2014:
Sales of $1,262 million, up 16%; Organic Sales up 6%
Operating Margin of 14.3%; Adjusted Operating Margin of 15.4%, up 250 bps
Diluted EPS from Continuing Operations of $2.16, up 65%;
Up 28% to $2.34 on an Adjusted Basis
2015 EPS from Continuing Operations of $2.40 to $2.55 per diluted share;
On an Adjusted Basis, $2.42 to $2.57 per diluted share, up 3% to 10%
BRISTOL, Conn., February 20, 2015 - Barnes Group Inc. (NYSE: B), an international industrial and aerospace manufacturer and service provider, today reported financial results for the fourth quarter and full year 2014.
Fourth quarter net sales of $310 million were up 7% from $291 million in the fourth quarter of 2013, driven by organic sales growth of 6% and one additional month of acquisition revenues from the Männer business versus the prior year period. Unfavorable foreign exchange reduced sales by 3%. Income from continuing operations for the fourth quarter was $33.3 million, or $0.60 per diluted share, compared to $26.3 million, or $0.47 per diluted share in the prior year period. On an adjusted basis, income from continuing operations was $0.62 per diluted share, up 9% from $0.57 a year ago. Fourth quarter 2014 adjusted diluted earnings from continuing operations exclude the impact of Männer short-term purchase accounting adjustments of $0.8 million pre-tax and costs related to the closure of production operations at Associated Spring’s Saline, Michigan facility which were $0.5 million pre-tax. Together, these two items contributed $0.02 to adjusted diluted earnings from continuing operations.
For the full year, Barnes Group generated net sales of $1,262 million, up 16% from last year; organic sales growth was 6% while acquisitions contributed 10%. Income from continuing operations was $120.5 million, or $2.16 per diluted share, compared to $72.3 million, or $1.31 per diluted share in 2013. On an adjusted basis, income from continuing operations was $2.34 per diluted share, up 28% from $1.83 a year
The following information was filed by Barnes Group Inc (B) on Friday, February 20, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Form Type: 10-K Annual Report Accession Number: 0000009984-15-000023 Submitted to the SEC: Mon Feb 23 2015 4:49:10 PM EST Accepted by the SEC: Mon Feb 23 2015 Period: Wednesday, December 31, 2014 Industry: Miscellaneous Fabricated Metal Products