The 2020 Mid-Year Economic Update_long

Kaman Distribution Sales Up 11.7% in 2014

Overall Kaman sales increased 10.9 percent in the quarter.

Kaman Corp. (NYSE: KAMN), Bloomfield, CT, reported sales for 2014 of $1.8 billion, up 8.5 percent from the prior year. Profit grew 1.4 percent to $57.9 million.

Sales for Kaman's distribution segment grew 11.7 percent for the full year to $1.2 billion, while aerospace sales grew 3.1 percent to $634 million.

For the fourth quarter, Kaman Corp. sales were $477.9 million, up 10.9 percent year-over-year. Profit increased 17 percent to $15.1 million.

Distribution segment sales grew 16.3 percent in the fourth quarter to $302.7 million, compared to the same period a year ago. Aerospace segment sales grew 2.6 percent to $175.3 million.

"Our investment in our sales force expansion was accretive in the quarter and the results for the quarter speak to the importance of this initiative towards achieving growth rates in line with our long-term goals," said President and CEO Neal J. Keating in regards to the distribution segment. "During the quarter we divested Distribution's Mexico operations, increasing the focus on our core strategy of building out product platforms in the U.S. and delivering improved operating performance."

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