Barnes' net income decreased from a profit of $17.6 million (30 cents per share) in their year-ago Q4 to a loss of $10 million (19 cents per share) in their current Q4. Revenue decreased to $265.4 million, a drop of 25%.
8:51a ET August 14, 2008 (MarketWatch) NEW YORK (MarketWatch) -- Industrial investors may want to wait a little longer before jumping back in the sectort with gusto, according to a Thursday note from Oppenheimer. Though second-quarter earnings growth among industrial names was "solid" and up 17% year over year, tight credit markets, a weak U.S. economy and elevated energy costs make for an uncertain outlook, the investment firm said. "Companies continue to expect slowing nonresidential construction markets, with no sign of relief for residential markets, likely lasting through mid-'09 or late '09, and have noted Europe showing increasing signs of weakening," Oppenheimer said. However, Copper Industries , Honeywell International , Barnes Group , Acuity Brands , and Thomas & Betts appear oversold on fears of a slowdown in non-residential and aerospace markets, and are more favorable, the firm said.
FROM: Greg Milzcik, President and CEO, Barnes Group Inc.
RE: New Barnes Group Inc. Logo System
DATE: July 28, 2008
Today, I am pleased to announce a sweeping transformation of our corporate identity, as we unveil a new logo system for Barnes Group Inc. and all of its businesses.
This new brand reflects who we are, the diversity of markets we service, and the quality work that we do – key differentiators for us in the marketplace. It also is a symbol of the transformation underway at Barnes Group through the Barnes Enterprise System (BES). BES has put us on the path to continuously improve operations, embrace globalization, and enhance our quality. Just imagine what the future holds as we leverage our synergies and become One Team. One Company. One Barnes Group.
We are changing our logo today to capture our global competitiveness and reach while expanding on our reputation as The Critical Components People – backed by the talents and expertise of our 6,200 employees across the globe. Your help is needed to sustain – and build – the Barnes Group logo and brand by reviewing and adhering to our new Global Branding Standards. Working together, we can create marketplace differentiation, unmistakable value and a lasting, positive image for our Company.
Please join me today in marking this milestone and celebrating the endless possibilities that the future holds for Barnes Group Inc.
Comprehensive information about this important milestone is available on BarnesNet at http://barnesnet.corporate.local
Barnes Group Q1 results beat analyst expectations, helped primarily by strong demand in its international industrial and aerospace markets. Sales at Barnes Aerospace were up 23% and total net income was $33.4 million, compared with $27.7 million a year ago.
I have owned this stock since early 80's through ESP and 401K. I own about $250,000 in the company and have been selling $7 to 14M a year for the last 10 years. Healthy dividends and splits have made it the best investment I have. The stock remaining shows 282% capital gain. I believe the returns are achieved through organic growth and more recently strategic acquisitions. I continue to believe the company is a strong long term investment. Increases in value easily exceed the $7-14M(2.3-5.6%) I have been pulling.