Barnes Group Q4 Adj. Profit Tops View - Quick Facts

(RTTNews) - Aerospace and industrial manufacturer Barnes Group, Inc. (B) Friday reported fourth-quarter net income of $31.5 million, or $0.57 per share, up from $26.8 million, or $0.48 per share, last year.

Income from continuing operations for the latest fourth quarter was $33.3 million, or $0.60 per share, compared to $26.3 million, or $0.47 per share in the prior year period.

On an adjusted basis, income from continuing operations was $0.62 per share, up 9% from $0.57 a year ago. On average, 7 analysts polled by Thomson Reuters expected the company to report profit per share of $0.61 for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales of $310.17 million were 7% higher than $291.14 million, reported a year ago, driven by organic sales growth of 6% and one additional month of acquisition revenues from the Männer business versus the prior year period. Five analysts projected revenue of $313.86 million for the quarter.

Looking ahead to 2015, the Group expects GAAP earnings from continuing operations to be in the range of $2.40 to $2.55 per share, total revenue growth of 3% to 6% and organic revenue growth of 6% to 9%. Excluding an approximate $0.02 of remaining Männer short-term purchase accounting adjustments, adjusted earnings per share from continuing operations are projected to be in the range of $2.42 to $2.57. Analysts expect the company to report annual profit per share of $2.49.