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.
Download a Free Chapter:
The Little Black Book of Strategic Planning for Distributors
Submit your email address below to receive a chapter of Brent Grover's new book. When you submit your email you will be signed up to receive weekly distribution news updates.
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.
Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit www.mdm.com/reprints. MDM welcomes inbound links from your site. Please cite Modern Distribution Management.
Download the Top 40 Industrial Distributor List Free
Get the Top 40 Industrial Distributors list in PDF, and you will be signed up below to receive MDM Update, your free daily distribution news update by email.