Barns Group Q3 Earnings Up, Meets Estimates; Expects EPS Growth In FY16

(RTTNews) - Barns Group Inc. (B) Friday reported increase in third-quarter net income to $36.83 million from $33.67 million a year ago. On a per share basis, earnings increased to $0.67 from $0.61 last year.

On average, six analysts polled by Thomson Reuters expected the company to earn $0.67 per share. Analysts estimates usually exclude special items.

Revenue for the quarter climbed to $311.56 million from $291.43 million in the previous year. Wall Street was looking for $315.22 million.

Looking ahead to the full year 2016, the company expects organic revenue growth to be flat for the year and revenue to grow 3.5 to 4.5 percent. The company expects adjusted earnings the range of $2.48 to $2.53 per share, up 4 to 6 percent from last year. Street analysts are expecting $2.51 per share on revenue of $1.24 billion.