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Barnes Group Inc Raises FY 2013 Revenue Guidance; Lowers FY 2013 EPS Guidance


Friday, 26 Apr 2013 06:30am EDT 

Barnes Group Inc updated fiscal 2013 guidance and expects revenue from continuing operations to grow 17% to 20% from fiscal 2012, GAAP Earnings per diluted share from continuing operations to be in the range of $1.71-$1.86. This guidance includes the impacts from the sale of Barnes Distribution North America which closed on April 22, 2013, and the Company's previously announced CEO transition. Excluding $10.5 million pre-tax, or $0.12 per share, in non-recurring costs associated with the Company's CEO transition, adjusted operating margins are expected to be approximately 14%, adjusted earnings per diluted share are anticipated to be in the range of $1.83 to $1.98. The Company reported revenue of $1.230 billion in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.099 billion and EPS of $1.91 for fiscal 2013. 

Company Quote

39.66
0.66 +1.69%
17 Apr 2014