For the third quarter, total sales decreased 28% over the prior year period with organic sales down 26%, driven by lower volumes given the pandemic's impact on our end markets.
On a positive note, total sales did improve 14% sequentially from the second quarter, primarily driven by the performance of our Industrial segment.
Adjusted operating income decreased 53% compared to a year ago, while adjusted operating margin declined 640 basis points to 11.7%.
Earnings per share were $0.30, down 66% from last year, obviously, significant declines from a year ago, but somewhat better than expectations we laid out in July.
Exiting the third quarter, all had solid PMI readings of 53 or better.
Overall, segment book-to-bill was slightly better than one times and orders grew 24% sequentially from the second quarter.
In the third quarter, total Barnes Aerospace sales were down nearly 50% with OEM down 44% and aftermarket down 58%.
Despite a second consecutive quarter of 50% down sales, Aerospace delivered adjusted operating margin of close to 10%, a tribute to the quality of the team.
The agreement provides for an increase of production share for select parts on LEAP engine programs, extends the term of previous agreements by 10 years for select parts and expands our portfolio of components on LEAP engines.
Inclusive of the contract extension benefit, the estimated sales is over $700 million through 2032.
As a company, we will work to reduce the energy we use in our factories as measured in carbon dioxide equivalents by 15%, reduce the amount of water we use by 20% and reduce the amount of industrial process waste we generate from our manufacturing operations by 15%.
Let me begin with highlights of our 2020 third quarter results.
Third quarter sales were $269 million, down 28% from the prior year period, with organic sales declining 26%.
We saw a 14% sequential improvement in sales relative to the second quarter.
Also, influencing our sales results, the divestiture of Seeger had a negative impact on sales of 4%, while FX had a positive impact of 2%.
Operating income was $31.2 million as compared to $67.6 million in last year's third quarter.
Operating margin was 11.6%, down 650 basis points.
Interest expense of $3.7 million decreased $1.6 million from the prior year period due to lower average borrowings and a lower average interest rate.
Other expense decreased by $2.5 million from a year ago as a result of favorable FX.
The company's effective tax rate for the third quarter of 2020 was approximately 44% as compared to 23.4% for the full year 2019.
Our current expectation for the full year 2020 tax rate is approximately 39%, which includes the recognition of tax expense related to the Seeger sale that occurred in the first quarter.
As we look out to next year, given where things stand today, we expect our 2021 tax rate to be in the range of approximately 27% to 29%.
Net income for the third quarter was $0.30 per diluted share compared to $0.89 a year ago.
Third quarter sales were $197 million, down 15% from a year ago.
Organic sales decreased 12%, Seeger divested revenues had a negative impact of 6%, while favorable FX increased sales by 3%.
On the positive side of the ledger, total Industrial sales increased 19% sequentially from the second quarter.
Industrial's operating profit for the third quarter was $24.4 million versus $34.8 million last year.
Operating margin was 12.4%, down 260 basis points.
Molding Solutions organic orders and sales were down approximately 10%.
Force & Motion Control organic orders were down mid-teens and sales down approximately 20%.
Engineered Components organic orders were up 8% with sales down approximately 10%.
Sales were $72 million, down 49% from last year.
Operating profit was $6.8 million, down approximately 80%, reflecting the lower sales volume and partially offset by cost actions.
Operating margin was 9.4% as compared to 23.2% a year ago.
On an adjusted basis, excluding $300,000 in restructuring charges, operating margin was 9.9%.
Aerospace OEM backlog ended the quarter at $534 million, down 4% from June 2020, and we expect to ship approximately 45% of this backlog over the next 12 months.
Year-to-date cash provided by operating activities was $163 million, an increase of approximately $2 million over last year-to-date, driven by ongoing working capital improvements.
Year-to-date free cash flow was $133 million versus $124 million last year.
And year-to-date capex was $30 million, down approximately $8 million from a year ago.
With respect to our balance sheet, our debt-to-EBITDA ratio, as defined by our credit agreement, was 2.8 times at quarter end, up from 2.4 times at the end of June.
For the next four quarters, our senior debt covenant maximum, our most restrictive covenant, has increased from 3.25 times EBITDA as defined to 3.75 times.
Our third quarter average diluted shares outstanding was 50.9 million shares.
For the fourth quarter, we expect organic sales will be lower than last year by approximately 20%, though up approximately 5% sequentially from the third quarter.
Operating margin is forecasted to be approximately 11%, while adjusted earnings per share are anticipated to be in the range of $0.27 to $0.35.
Forecasted 2020 capex is approximately $40 million, a bit lower than our prior view.

Summary:
Earnings per share were $0.30, down 66% from last year, obviously, significant declines from a year ago, but somewhat better than expectations we laid out in July.
As a company, we will work to reduce the energy we use in our factories as measured in carbon dioxide equivalents by 15%, reduce the amount of water we use by 20% and reduce the amount of industrial process waste we generate from our manufacturing operations by 15%.
Let me begin with highlights of our 2020 third quarter results.
Third quarter sales were $269 million, down 28% from the prior year period, with organic sales declining 26%.
Net income for the third quarter was $0.30 per diluted share compared to $0.89 a year ago.
Force & Motion Control organic orders were down mid-teens and sales down approximately 20%.
For the fourth quarter, we expect organic sales will be lower than last year by approximately 20%, though up approximately 5% sequentially from the third quarter.
Operating margin is forecasted to be approximately 11%, while adjusted earnings per share are anticipated to be in the range of $0.27 to $0.35.
Forecasted 2020 capex is approximately $40 million, a bit lower than our prior view.