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Kaman Distribution Sales Up 5.5% in 2013

Kaman Corp. (NYSE: KAMN), Bloomfield, CT, reported sales for 2013 were $1.7 billion, up 5.5 percent over sales in 2012. Profit grew 4 percent to $57.1 million.

For the fourth quarter, sales were $438.3 million, up 10 percent year-over-year. Profit fell 9 percent to $12.9 million.

Sales for Kaman's distribution segment grew 5.5 percent for the full year to $1.1 billion. Segment operating profit fell 14 percent to $43.3 million. For the fourth quarter, sales grew 7.7 percent to $267.5 million, and operating profit fell 7 percent to $10.4 million.

The increase in sales for the full year for the distribution segment resulted from contributions from acquisitions, which were partly offset by a 1.7 percent decrease in organic sales.

"Despite the challenges encountered at distribution, the segment achieved organic sales growth of 5.2 percent for the fourth quarter, our first quarter of year-over-year organic sales growth in distribution since the second quarter of 2012," said Neal Keating, president and CEO.

Aerospace segment sales for 2013 increased 5.7 percent to $614 million. Segment operating profit grew 15 percent to $102.6 million. For the fourth quarter, sales grew 13 percent to $170.9 million, and operating profit increased 12 percent to $25.3 million.

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