barneslogoa05.jpg
 
 
 
Exhibit 99.1



Barnes Group Inc.
123 Main Street
Bristol, CT 06010
NEWS RELEASE


BARNES GROUP INC. REPORTS
FOURTH QUARTER AND FULL YEAR 2016
FINANCIAL RESULTS

Fourth Quarter 2016:
Sales of $324 million, up 13% from last year’s fourth quarter; Organic Sales up 9%
Operating Margin of 15.8%; Adjusted Operating Margin of 16.0%, up 50 bps
Diluted EPS of $0.67, up 52%; Up 12% to $0.67 on an Adjusted Basis
Full Year 2016:
Sales of $1,231 million, up 3% from 2015; Full Year Organic Sales Flat to 2015
Operating Margin of 15.6%; Adjusted Operating Margin of 16.0%, up 20 bps
Diluted EPS of $2.48, up 13%; Up 6% to $2.53 on an Adjusted Basis
2017 Outlook:
2017 Expected Sales Growth of 6% to 8%; Organic Sales Growth of 3% to 5%
2017 Adjusted Net Income of $2.61 to $2.76 per Diluted Share; up 3% to 9% from 2016 Adjusted Net Income of $2.53 per Diluted Share

BRISTOL, Conn., February 17, 2017
- Barnes Group Inc. (NYSE: B), a global industrial and aerospace manufacturer and service provider, today reported financial results for the fourth quarter and full year 2016.
Fourth quarter 2016 net sales of $324 million were up 13% from $287 million in the prior year period driven by organic sales growth (1) of 9% and acquisition sales of 5%. Foreign exchange unfavorably impacted sales by 1%. Net income for the fourth quarter was $36.7 million, or $0.67 per diluted share, compared to $24.4 million, or $0.44 per diluted share, a year ago. On an adjusted basis, net income was $0.67 per diluted share, up 12% from $0.60 last year. Adjusted diluted net income per share in the fourth quarter of 2016 excludes $0.03 of FOBOHA short-term purchase accounting adjustments in our Industrial Segment and a $0.03 benefit related to a contract termination arbitration award in our Aerospace Segment. Fourth quarter 2015 adjusted diluted net income per share excludes restructuring and workforce reduction charges of $0.05 and pension lump sum settlement charges of $0.11.
For the full year, Barnes Group generated net sales of $1,231 million, up 3% from $1,194 million last year. Full year organic sales were flat, while acquisition sales of 4% were partially offset by an unfavorable foreign exchange impact of 1%. Net income for the year was $135.6 million, or $2.48 per diluted share, compared to $121.4 million, or $2.19 per diluted share, a year ago. On an adjusted basis, net income was $2.53 per diluted share, up 6% from $2.38 last year. Adjusted diluted net income per share for 2016 excludes $0.05 of FOBOHA short-term purchase accounting adjustments and acquisition transaction costs in our Industrial Segment and a contract termination arbitration award which offset related charges



The following information was filed by Barnes Group Inc (B) on Friday, February 17, 2017 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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