Kaman Sales Down 8.8% in 2009 - Modern Distribution Management

Log In

Kaman Sales Down 8.8% in 2009

Industrial Distribution sales for Kaman fell 16.9%.
Author
Date

Bloomfield, CT-based Kaman Corp. (Nasdaq: KAMN) reported sales for the year ended Dec. 31, 2009, were $1.14 billion, down 8.8% from $1.25 billion in the previous year.
 
In the fourth quarter, sales were $269 million, down from $316 million in the same period a year ago.
We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.

\"\"

 
By Segment:
Industrial Distribution sales decreased 20% in the 2009 fourth quarter to $149.8 million from a year ago. On a same-day sales basis, sales in the fourth quarter were 14.7% lower than 2008. Segment operating income for the fourth quarter of 2009 was $3.4 million, a 42.6% decrease from the fourth quarter of 2008.
 
Segment sales for 2009 were $645.5 million compared to $777 million in 2008, a decrease of 16.9%. As with the fourth quarter, the full year was impacted by weak market conditions due to the economic environment and a strong comparative sales increase of 11% in 2008, of which 6.2% was from acquisitions.
 
Aerospace segment sales were $119.3 million in the 2009 fourth quarter, a decrease of 7.6% from the fourth quarter of 2008. Operating income for the 2009 fourth quarter was $18.2 million, compared to operating income of $14.7 million in the 2008 fourth quarter. The increase was primarily attributable to higher profitability from the JPF program under Option 5 of that contract and higher profit margins from bearing product lines.
 
The decrease in segment sales from last year’s fourth quarter is a result of several factors including: lower JPF direct commercial sales, lower Egypt upgrade program revenue, and decreased sales of commercial aerospace bearings. These decreases were partially offset by increased sales of legacy missile fuze systems, higher sales of Boeing commercial structures due to the timing of deliveries, and increased revenues from erosion coating programs for U.S. military helicopter platforms.
 
For the full year 2009, Aerospace sales increased 5.1% to $500.7 million from $476.6 million in 2008. This increase was primarily attributable to higher deliveries under the BLACKHAWK cockpit program; higher sales of JPF fuze systems; a full year of sales from Brookhouse, which was acquired during 2008; higher sales of SH-2 spares to New Zealand; and increased revenues from helicopter blade erosion coating programs. These increases were partially offset by lower sales of commercial bearings, primarily for the business and regional jet markets, and the absence of SH-2G(A) support center program sales.
 

 

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.