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Article: Barnes Group reports higher sales and earnings for 1990.
- Article from:
- PR Newswire
- Article date:
- January 24, 1991
CopyrightCOPYRIGHT 1991 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BARNES GROUP REPORTS HIGHER SALES AND EARNINGS FOR 1990
BRISTOL, Conn., Jan. 24 /PRNewswire/ -- Barnes Group Inc. (NYSE: B) today reported a 42 percent increase in net income per common share for 1990 compared with that of 1989, which was affected by a one-time charge. Sales for the year rose 7 percent.
Sales in 1990 climbed to $546 million from $511 million in 1989. Net income applicable to common stock was $16.8 million, compared with $11.1 million in 1989. Net income per common share for 1990 was $2.76, vs. $1.94 the prior year.
Wallace Barnes, chairman and chief executive officer, said that earnings in 1989 reflected a $6.5 million ...