Kaman Corp. reported sales for the second quarter 2007 were $320 million, an increase of 9.2% from the second quarter 2006. Profit was $10.1 million, an increase of 34.4%.
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In the first half of 2007, the company reported sales of $637.7 million, an increase of 8.1% over the same period last year. Profit was $20.1 million, up 50.2%.
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Aerostructures sales for the second quarter were $23.3 million, compared to $17.1 million for the second quarter of 2006. Segment net sales for the first half of 2007 were $48.5 million, compared to $34 million for the first half 2006.
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Fuzing sales for the second quarter were $24 million, compared to $14.6 million in the same period a year ago. The increase was due primarily to a significant increase in shipments of the company’s Joint Programmable Fuze product line. Sales for the first half were $42.5 million, compared to $33.7 million in 2006.
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Helicopters sales for the second quarter were $19 million, compared to $15.2 million for the second quarter 2006. The increase is the result of the company’s ongoing maintenance and upgrade program for Egyptian SH-2G(E) aircraft, and the Sikorsky BLACK HAWK program involving fuselage joining, installations and other tasks. Sales for the first half of 2007 were $36.5 million, compared to $26.7 million in the first half 2006.
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Specialty Bearings sales for the second quarter were $31.5 million, compared to $27.5 million in the second quarter of 2006. The increase was due to increased shipments of the segment’s airframe bearing products as the company continues to meet strong demand and add market share. Sales for the first half were $63.4 million, compared to $53.6 million for the first half of 2006.
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Collectively, the Aerospace Segments’ sales for the second quarter of 2007 were $97.8 million, compared to $74.4 million for the second quarter of 2006. First-half sales for the Aerospace Segments were $190.9 million for 2007, compared to $148.0 million in 2006.
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Industrial Distribution sales for the second quarter were $174.6 million, compared to $170.5 million in 2006. The segment’s results for the second quarter reflect a weak economic climate for various industries, including the building materials industry, which was down sharply, automobile manufacturing, and original equipment manufacturing.
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This was somewhat offset by continued strength in other areas, including food processing, coal mining, oil exploration and electrical power generation. Results for the quarter also reflect the expenses associated with bringing new national account wins on line and increases in incremental operating costs. The new national accounts are expected to begin generating revenue over the next several quarters.
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Segment sales for the first half of 2007 were $348.0 million, compared to $341.1 million in the first half of 2006.