barnes group inc (B) Key Developments
Barnes Group Inc. Declares Quarterly Cash Dividend, Payable on June 10, 2015
May 8 15
The Board of Directors of Barnes Group Inc. has declared a quarterly cash dividend of twelve cents ($0.12) per share. The dividend will be payable June 10, 2015 to shareholders of record at the close of business on May 28, 2015.
Barnes Group Inc. Presents at Drexel Hamilton Aerospace & Defense Conference, Jun-11-2015 09:30 AM
Apr 28 15
Barnes Group Inc. Presents at Drexel Hamilton Aerospace & Defense Conference, Jun-11-2015 09:30 AM. Venue: Westin New York, Times Square, 270 W 43rd Street, New York, New York, United States.
Barnes Group Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year 2015
Apr 24 15
Barnes Group Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. Net sales were $300.573 million against $312.099 million a year ago, as positive organic growth of 3% was more than offset by unfavorable foreign exchange of 6%. Operating income was $43.895 million against $35.124 million a year ago. Income before income taxes was $41.094 million against $31.571 million a year ago. Net income was $29.076 million or $0.52 per diluted share against $22.752 million or $0.41 per diluted share a year ago. Net cash provided by operating activities was $22.666 million against $16.977 million a year ago. Capital expenditures were $10.96 million against $15.074 million a year ago. On an adjusted basis, net income was $0.53 per diluted share, up 6% from $0.50 a year ago. First quarter 2015 adjusted net income excludes $0.9 million pre-tax, or $0.01 per diluted share, of männer short-term purchase accounting adjustments. First quarter 2014 adjusted net income excludes the impact of männer short-term purchase accounting adjustments of $4.9 million pre-tax, or $0.06 per diluted share, and costs related to the closure of production operations at associated spring’s saline, michigan facility which were $2.8 million pre-tax, or $0.03 per diluted share.
The company now expects 2015 organic revenue growth of 6% to 8% with total revenue growth of 1% to 3% after consideration of unfavorable foreign exchange of approximately 5%. Operating margins are forecasted to be in the range of 16% to 17%. GAAP earnings from continuing operations are now expected to be in the range of $2.43 to $2.58 per diluted share. Excluding an approximate $0.02 of remaining manner short-term purchase accounting adjustments anticipated to be recorded in 2015, adjusted diluted earnings per share from continuing operations is expected to be in the range of $2.45 to $2.60, up 5% to 11% from 2014's adjusted diluted earnings per share of $2.34. Further, the Company still anticipates capital expenditures of approximately $55 to $60 million and cash conversion to approximate 100% of net income. The company expects tax rate, between the 29% and 30% for the full year.
Barnes Group Seeks Acquisitions
Apr 24 15
Barnes Group Inc. (NYSE:B) will consider acquisitions. Chris Stephens, Senior Vice President of Finance and Chief Financial Officer said, "We'll continue to invest in our businesses and seek acquisition opportunities that advance our portfolio of differentiated industrial technologies."
Barnes Group Inc. Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-03-2015 03:40 PM
Apr 10 15
Barnes Group Inc. Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-03-2015 03:40 PM. Venue: The Westin Chicago River North, 320 North Dearborn Street, Chicago, IL 60654, United States. Speakers: Patrick J. Dempsey, Chief Executive Officer, President, Director and Member of Executive Committee, William Pitts, Director of Investor Relations.