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Kaman Corp. (NASDAQ GS: KAMN), Bloomfield, CT, No. 3 on MDM's list of the top power transmission/bearing distributors, reported third-quarter sales of $359.5 million, an increase of 24 percent over the same period a year ago. Profit increased 64.4 percent to $15.8 million.
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"Stronger performance across our businesses allowed us to end the third quarter with higher sales and profitability than originally anticipated," said Neal J. Keating, president and CEO.
Industrial Distribution segment sales increased 37 percent in the third quarter to $223.1 million. On a sales per sales day basis, organic sales were up 17.1 percent. Segment operating income was $8.5 million, compared to $3.4 million a year ago.
Aerospace segment sales were $136.4 million, an increase of 7.4% from third quarter of 2009. Operating income for the third quarter of 2010 was $19.0 million, compared to operating income of $19.9 million in the 2009 third quarter.
Year-to-date, sales were $953.4 million, up 8.7 percent from the same period a year ago. Profit fell 3.1 percent to $23.6 million.