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Barnes Group Inc. Reports Third Quarter 2009 Financial Results.

Publication: Business Wire
Publication Date: 30-OCT-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Barnes Group Inc. Reports Third Quarter 2009 Financial Results.(Financial report)

Article Excerpt
* Revenues of $260.3 million for the third quarter 2009

* Third quarter 2009 diluted EPS of $0.20, including restructuring charges

* Year-to-date 2009 cash from operating activities improved 51% from the prior year period

* Debt-to-Capital ratio improved to 35% as debt declined 23% from year-end 2008 to $360.7 million

BRISTOL, Conn. -- Barnes Group Inc. (NYSE: B), a diversified global manufacturer and logistical services company, today reported financial results for the third quarter 2009. The Company reported income from continuing operations of $10.9 million, or $0.20 per diluted share, compared to $29.2 million, or $0.52 per diluted share in the prior year period. Included in the third quarter 2009 results are $3.4 million pre-tax ($1.7 million after-tax) of restructuring charges. Barnes Group's third quarter 2009 sales totaled $260.3 million, down 22 percent from $333.8 million in the third quarter of 2008.

Barnes Group generated $125.7 million in cash from operations for the first nine months of 2009, reflecting an improvement of 51 percent over the prior year period level of $83.2 million. Cash flow generation driven by working capital improvements helped reduce debt to $360.7 million, a decline of 23 percent...

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