Bristol manufacturer Barnes Group said its third-quarter profits grew by more than 60 percent, thanks to contributions from its Männer business as well as organic sales growth.
The company netted $33.9 million, or 61 cents per diluted share, up from $20.9 million, or 38 cents, in the quarter ended Sept. 30 a year ago.
The gains came on net sales of $317.7 million, up 18 percent from $269.5 million in the year-ago quarter.
Barnes’ aerospace segment increased sales by 9 percent during the quarter, to $110.4 million, while industrial sales grew 24 percent, to $207.2 million. Of the $39.5 million sale increase in that segment, Männer contributed $29.6 million.
Barnes closed on its $372 million purchase of Männer last October, so the German mold-maker’s results were not included in third quarter 2013 earnings.
