UPDATE: Barnes Group Posts Surge In Q4 Profit

Barnes Group B reported a strong rise in its fourth-quarter earnings. Barnes Group expects full-year adjusted earnings of $2.03 to $2.18 per share on revenue growth of 14% to 18%. However, analysts projected earnings of $2.15 per share on revenue growth of 14%. Barnes Group's quarterly profit surged to $29.7 million, or $0.54 per share, from $66,000, or less-than-a-penny per share, in the year-ago period. Its sales rose 16% to $327.4 million. However, analysts were expecting earnings of $0.51 per share on revenue of $326 million. Its operating margin widened to 12.1% from 10.2%. Barnes Group shares closed at $24.47 yesterday.