The 2020 Mid-Year Economic Update_long

Kaman Distribution Sales Up 3% in First Quarter

Overall, Kaman's sales grew 6.7 percent in the quarter.

Kaman Corp. (NYSE: KAMN), Bloomfield, CT, reported first-quarter sales of $413.9 million, up 6.7 percent over the same period a year ago. Profit grew 60 percent to $11.5 million.

Sales for Kaman's distribution segment were $264.9 million, up 3 percent over the prior year period. Organic sales per sales day increased 1.9 percent, despite adverse weather conditions in January and February. Segment operating profit was $11.1 million, versus $4.6 million a year ago.

Aerospace segment sales were $149.1 million, up 14 percent year-over-year. Operating profit increased 5 percent to $22 million.

Kaman also announced the completion of its previously announced acquisition of Akron, OH-based B.W. Rogers, through its subsidiary Kaman Fluid Power LLC. About 240 employees of B.W. Rogers have joined Kaman.

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