Kaman Corp., Bloomfield, CT, reported sales for the second quarter of $431.7 million, an increase of 7.9 percent compared to the same period a year ago. Profit increased 8.6 percent to $17.9 million.
Sales for Kaman Industrial Technologies – Kaman's industrial distribution segment – increased 6.9 percent in the second quarter to $270.2 million. Acquisitions contributed $25.2 million for the distributor, ranked No. 17 on MDM’s 2013 list of top industrial distributors. Organic sales per sales day improved sequentially but decreased 3.1 percent from the prior year. Segment operating income was $13.7 million, a decrease of 3.5 percent, due to lower organic sales and correspondingly lower rebates.
Aerospace sales were $161.5 million, an increase of 9.6 percent from the second quarter of 2012. Operating income was $28.7 million, a decrease of 9.5 percent from the prior-year quarter.
For the first six months, sales for Kaman Corp. were $819.8 million, an increase of 4.6 percent compared to the first half of 2012. Profit decreased 3.2 percent to $25 million.
Sales for Kaman Industrial Technologies increased 4.3 percent in the first half to $527.4 million. Segment operating income was $26.5 million, a decrease of 30.9 percent.