Diversified distributor Kaman Corp., Bloomfield, CN, reported an 11% sales increase to $1.1 billion for the fiscal year 2005, up from $995.1 million in 2004. Profits were $13 million, compared with a net loss of $11.8 million last year.
For the fourth quarter ended Dec. 31, 2005, Kaman had a 13% sales increase to $288,516, compared with $256,226 in the same period in 2004. Profit was $9.2 million, compared to $.5 million in 2004.
By Segment
Net sales for the Industrial Distribution segment in the 2005 fourth quarter were $152 million, compared to $141.6 million in the 2004 period. Net sales for 2005 were a record $621.9 million, compared to $581.8 in 2004. Kaman is the third largest North American industrial distributor serving the bearings, electrical/mechanical power transmission, fluid power, motion control and materials handling markets.
In Music, net sales in the 2005 fourth quarter were $60.9 million, including $17.9 million from the August 2005 acquisition of Musicorp, compared with $43.1 million for the fourth quarter of 2004. Net sales for 2005 were $191.3 million, including $28.7 million from Musicorp, compared with $161 million in 2004.
For 2005, the Aerospace segment had operating income of $33.3 million, compared to an operating loss of $14.3 million in 2004. Segment sales for 2005 were $288 million, compared with $252.4 million in 2004.
The Aerostructures Division had net sales of $14 million in the fourth quarter of 2005, compared to $13.3 million the previous year. Net sales for 2005 were $55 million, compared to $45.4 million in the 2004 period.
The Fuzing Division had net sales in the 2005 fourth quarter of $15.1 million, compared to $20.7 million a year ago. Net sales for the 2005 full year were $58.4 million, compared to $56.8 million in 2004.
The Helicopters Division had net sales of $21.4 million in the fourth quarter of 2005, compared to $20 million in the 2004 period. Net sales for the 2005 full year were $76.7 million, compared to $67 million in 2004.
For more on Kaman’s financials for the fourth quarter 2005, click here.
