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Kaman Reports 2012 Fourth Quarter And Full Year Results

Kaman Corp. (NYSE:KAMN) today reported financial results for the fourth quarter and full year ended December 31, 2012.

  Table 1. Summary of Financial Results    
In thousands except per share amounts For the Three Months Ended
December 31, 2012 December 31, 2011 $ Change
Net sales from continuing operations:
Distribution $ 248,280 $ 228,552 $ 19,728
Aerospace 151,036   145,283   5,753  
Net sales $ 399,316   $ 373,835   $ 25,481  
Operating income from continuing operations:
Distribution $ 11,155 $ 10,920 $ 235
Aerospace 22,673 17,472 5,201
Net gain (loss) on sale of assets (84 ) (220 ) 136
Corporate expense (10,503 ) (9,520 ) (983 )
Operating income $ 23,241   $ 18,652   $ 4,589  
Diluted earnings per share from continuing operations $ 0.52 $ 0.37 $ 0.15
Adjustments* 0.09   0.16   (0.07 )
Adjusted diluted earnings per share* $ 0.61   $ 0.53   $ 0.08  

Neal J. Keating, Chairman, President and Chief Executive Officer, stated, "2012 was a great year for Kaman. Distribution sales exceeded $1.0 billion for the first time in the history of this business, while Aerospace delivered operating margin of 15.3% for the year or 16.2% on an adjusted* basis.

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