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BRISTOL, Conn. (AP) — BRISTOL, Conn. (AP) — Barnes Group Inc. (B) on Friday reported fourth-quarter net income of $15.6 million.
The Bristol, Connecticut-based company said it had net income of 30 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to 52 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The aerospace and industrial parts supplier posted revenue of $313.5 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $321 million.
For the year, the company reported profit of $13.5 million, or 26 cents per share. Revenue was nearly unchanged at $1.26 billion.
Barnes Group expects full-year earnings in the range of $2.10 to $2.30 per share.
Barnes Group shares have increased almost 7% since the beginning of the year. The stock has fallen nearly 9% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a B">Zacks stock report on B at https://www.zacks.com/ap/B