Kaman Corp. (NASDAQ GS: KAMN), Bloomfield, CT, reported sales for the first quarter ended April 1, 2011, were $377.8 million, an increase of 36 percent over the same period a year ago. Organically, sales increased 12 percent. Profit was $13.6 million, compared to year-ago profit of $1.7 million.
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Industrial Distribution segment sales grew 33.3 percent in the 2011 first quarter to a record $238.9 million. On a sales per sales day basis, organic sales were up 12.3 percent over last year’s first quarter. Segment operating income for the first quarter of 2011 was $11.7 million, a 143.8 percent increase from operating income of $4.8 million in the first quarter of 2010.
Aerospace segment sales were $139.0 million in the first quarter of 2011, an increase of 42.5 percent from the first quarter of 2010. The sales increase was primarily attributable to higher sales prices and increased volume of JPF fuzes combined with $7.8 million of sales from Global Aerosystems, which was acquired in December 2010. Operating income for the first quarter of 2011 was $20.9 million, compared to $9.6 million in the 2010 first quarter.
