Bristol aero- and industrial-parts maker Barnes Group Inc. posted lower second-quarter net on flat sales.
For three months ended June 30, Barnes said Monday it netted $37.6 million, or 73 cents a diluted share, down from $49.4 million, or 93 cents, netted the same quarter a year ago.
Second-quarter sales were $372 million vs. $375 million a year earlier.
Barnes said strong aerospace sales offset a dip in sales of automotive and other industrial components.
Higher interest expense tied to its purchase last October of Italian industrial-automation components maker Gimatic S.r.l. also impacted earnings, the company said.
As a result, Barnes Group says it now expects 2019 total revenue growth of 3 percent to 4 percent.
Earnings are now expected to be in the range of $3.10 to $3.20 per diluted share, down from its previous forecast of $3.15 to $3.27 per share.
