Kaman Corp., Bloomfield, CT, (NYSE:KAMN) has reported sales for the second quarter of $405 million, up 5 percent from the prior-year period. Profit for the quarter was $16.5 million. Sales for the first half of the year were $794 million, up 4 percent. Profit was $25.8 million.
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Sales for Kaman Industrial Technologies, Kaman’s industrial distribution segment, were $258 million, up 8 percent. Acquisitions contributed $13.8 million in sales in the quarter. Organic growth was 2.1 percent.
Sales growth was driven by increases in fabricated metal product manufacturing, nonmetallic mineral manufacturing and primary metal manufacturing. These increases were partially offset by declines in the food and beverage, semi-conductor and solar power industries.
Sales in industrial distribution were $515.8 million in the first half of the year.
Aerospace segment sales were $147.4 million, up slightly from $145 million in the prior-year period.The increase was due to strong performance from bearing product lines; increased deliveries under the A-10 re-wing program; higher sales of commercial K-MAX service, support and spares; and contributions from the acquisition of Vermont Composites. The increases were offset by lower sales on several programs including the JPF program which had the benefit of significant direct commercial sales volume in the second quarter of 2011. Other programs generating lower sales were Unmanned K-MAX, BLACK HAWK cockpit production and legacy fuze programs.
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