Kaman Corp., Bloomfield, CT, reported sales of $307.6 million in the third quarter 2006, up 10% from the prior-year period. Profit was $8.7 million, compared to a loss of $3.6 million in third quarter 2005.
For the first nine months of 2006, sales were $897.2 million, up 10% from $812.7 million last year. Profit was $22.1 million, compared to $3.9 million last year.
Industrial Distribution Segment
The Industrial Distribution segment had sales of $166.7 million in the third quarter 2006, compared with $156.5 million in the 2005 period, a 6% increase. For the 2006 nine-month period, sales were $507.8 million, up 8%.
CEO Paul R. Kuhn: “This past quarter we were affected by a downturn in new home construction, but benefited from robust sales to the energy and raw materials industries. Overall, U.S. industrial production remains in positive territory but is showing signs of having peaked. We are currently expanding our efforts to increase business in the coal mining, oil exploration and petroleum production industries, while the typically less cyclical food processing industry remains an area of strategic focus for the segment.”
Kaman is a North American industrial distributor serving the bearings, electrical/mechanical power transmission, fluid power, motion control and materials handling markets. The segment offers almost 2 million items to more than 50,000 customers. Segment operations are headquartered in Windsor, CT, and conducted from about 200 locations in the U. S., Canada and Mexico.
More details on other Kaman segments here.
Kaman Industrial Distribution Sales Up 8% in 2Q
Kaman Posts 11% Annual Sales Growth
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