19. Kaman Industrial Technologies - Top Industrial Distributors
Headquarters: Bloomfield, CT
2017 revenue: $1,080,965,000
16:17 Change: -2.29%
2016 Revenue: $1,106,322,000
Employees: 5,300 (Company)
Key Executives: Neal Keating, President & CEO; Robert Starr, EVP & CFO; Richard Barnhart, EVP-Kaman Corp, President, Kaman Aerospace group; Alphonse Larvieree, Jr., EVP Kaman Corp, President, Kaman Distribution Group
For 2017, Kaman listed sales overall as being down slightly (2.3 percent).
In financial and corporate statements, however, Kaman actually had a fairly good year, attributing the slight decline to an early impact of the Tax Cuts and Jobs Act passed by Congress late in the year.
“The Tax Cuts and Jobs Act which, among other things, reduced the federal tax rate for corporations, which required us to revalue our deferred tax assets resulting in a nonrecurring charge of $9.7 million, or $0.35 per diluted share,” Neal Keating, chairman, president and CEO said. “Looking ahead, the company will benefit from a lower federal tax rate, which will allow for increased investments in our business, expansion of our operations, and the return of additional capital to shareholders.”
In November, Kaman named Alphonse Lariviere, Jr., as president of its distribution segment, succeeding Steven Smidler.
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