Barnes Group Posts Fourth Quarter Profit
Barnes Group Inc., the manufacturer of auto - parts and aerospace, has reported a huge profit of about $6.2 million for the fourth quarter while the revenue of the company fell slightly in the midst of fewer charges when compared to the year 2008.
The company feels that they had adjusted effectively to the recession with well thought out steps to increase the profits by tremendously altering the structure of their cost systems and also to manage profits when the matter of revenue is considered.
It is an interesting fact that the company made a profit of this substantial amount as they experienced a huge loss of about $11.1 million in the year 2008. Various surveys and polls have created the notion that the amount of earnings in terms of revenue would be around $260 million.
The sales had actually risen in the fourth quarter and seen a profit of about 6.7 per cent but it had gone down when the whole year is considered by about 24 per cent. It is also a notable fact that the stock had actually risen by about 58 per cent in the year 2008 alone.
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