The 2020 Mid-Year Economic Update_long

Kaman Industrial Technologies Sales Up 8.8% in 2012

Total 2012 sales for Kaman increased 7.8 percent over 2011.

Kaman Corp., Bloomfield, CT, reported sales for 2012 of $1.6 billion, up 7.8 percent over sales in 2011. Profit increased 7.6 percent to $55 million.

Fourth-quarter sales were $399.3 million, up 6.8 percent over the same period a year ago. Profit grew 42 percent to $14.2 million.

Kaman Industrial Technologies – Kaman's industrial distribution segment – reported sales from continuing operations for 2012 of $1.01 billion, a year-over-year increase of 8.8 percent.

"At Distribution, operating profit from continuing operations was a record $50.6 million, a 7.8 percent increase, achieved in the face of declining industrial production," said Neal J. Keating, president and CEO. "This decline was especially felt during the second half of the year, resulting in flat organic sales year over year. Despite this pressure, Distribution maintained an operating margin of 5 percent, consistent with the prior year."

For the fourth quarter, KIT's sales increased 8.6 percent to $248.3 million. Organic sales were down 6.5 percent. Segment operating income grew 2.2 percent to $11.2 million.

Aerospace sales for 2012 of $580.8 million, up 6.1 percent over sales in 2011. Operating profit increased 10.8 percent to $89.1 million.

For the fourth quarter, Aerospace sales were $151 million, up 4 percent over the same period a year ago. Segment operating profit increased 29.7 percent to $22.7 million.

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