Barnes Group (B) Reports Q3 Earnings; CEO Comments on Outlook
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Barnes Group Inc. (NYSE: B) reports Q3 EPS of $0.20 vs. analyst estimate of $0.21. (Included in the third quarter 2009 results are $3.4 million pre-tax ($1.7 million after-tax) of restructuring charges)
Barnes Group's Q3 revenues were $260.3 million vs. $254.44 million consensus.
"We have not yet seen the sustained signs of a turnaround in the global economy. The challenges posed in the third quarter were similar to what we have seen for the preceding six months in many of our end markets. However, we are optimistic about the prospects for economic improvement in 2010, so we continue to pursue internal initiatives we feel are essential to positioning Barnes Group for the future," said Gregory F. Milzcik, President and Chief Executive Officer.
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