Bristol aerospace and industrial manufacturer Barnes Group Inc. said strong performance in its industrial segment helped drive a 16-percent revenue gain in its third quarter.
Barnes booked $269.5 million in net sales, up from $232.5 million in the same three months last year. Profits were $20.9 million, up $2.4 million, or 13 percent.
The company’s industrial segment grew its sales 25 percent during the quarter to nearly $168 million, largely fueled by sales at Synventive, a Massachusetts molding company it acquired last year. The company is in the process of acquiring Männer, a German mold maker. It expects that deal to close Oct. 31.
Barnes also updated its 2013 earnings outlook today, saying it expects full-year EPS between $1.75 and $1.80.
