Kaman Corp., Bloomfield, CT, reported sales of $335.1 million for the third quarter ended Sept. 26, 2008, an increase of 21.9% from the prior-year period. Profit from continuing operations was $13.5 million, an increase of 43.6% from the third quarter 2007.
 
For the first nine months of 2008, profit from continuing operations increased 3.6% to $28.5 million, as compared to the same period the prior year. Sales were $937.2 million, an increase of 15.2%.
 
The Industrial Distribution segment reported third quarter sales of $204.3 million, an increase of 14.7% from a year ago. Organic sales growth in the quarter was 7.1%, with the remaining growth coming from the acquisition of Industrial Supply Corp. during the second quarter. The Industrial Distribution segment’s results reflect strong demand in served markets, the continued expansion of national accounts business, and the addition of ISC.
 
For the 2008 nine-month period, sales in the Industrial Distribution segment totaled $589.8 million, an increase of 12% compared with the year ago period. Organic growth for the first three quarters of 2008 was 6.9%, compared with 3.6% in the same period last year.
 
The Aerostructures segment reported sales of $44 million, an increase of 71.2% over sales in the third quarter of 2007. Operational issues in Wichita resulted in charges of $3.9 million significantly reducing profitability. Operating income for the third quarter was $0.2 million.
 
For the 2008 nine-month period, the Aerostructures segment reported net sales of $103.8 million, compared to $74.2 million for the first nine months of 2007. The segment had an operating loss of $7.1 million in the first three quarters of 2008, including a $7.8 million non-cash goodwill impairment charge recorded in the second quarter.
 
Sales in the Precision Products segment (formerly Fuzing) were $32.6 million, up 47.5% from a year ago. Operating income for the third quarter of 2008 was $3.6 million, compared to $2.7 million in the 2007 period.
 
For the first three quarters of 2008, sales in the Precision Products segment totaled $84.0 million, compared to $64.6 million in the first three quarters of 2007. Segment operating income totaled $6.3 million in the first three quarters of 2008, compared to $9.2 million in the first three quarters of 2007.
 
The Helicopters segment reported operating income for the third quarter of 2008 of $3.5 million, compared to $2.3 million in the third quarter of 2007. Segment sales in the third quarter of 2008 were $17.4 million, compared to $18.2 million in the same period last year.
 
Helicopter segment sales for the first nine months of 2008 totaled $50.1 million, compared to $54.7 million in the first three quarters of 2007. For the first three quarters of 2008, the segment generated operating income of $7.2 million, compared to $1.0 million in the year ago period.
 
Operating income in the Specialty Bearings segment rose 25.6% to $13.6 million from $10.9 million in the third quarter of last year. Segment sales in the period were a record $36.8 million, compared to $30.7 million in the third quarter of 2007, an increase of 19.9%.
 
Sales in the Specialty Bearings segment rose 16.4% in the first nine months of 2008 to $109.6 million from $94.2 million in the first nine months of 2007. For the first nine months of the year, the segment has generated operating income of $40.6 million, a 28.2% increase over operating income of $31.6 million in the first nine months of 2007.