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Kaman Reports 2013 Second Quarter Results

Kaman Corp. (NYSE:KAMN) today reported financial results for the second quarter ended June 28, 2013.

         
Table 1. Summary of Financial Results from continuing operations
In thousands except per share amounts For the three months ended
June 28, 2013 June 29, 2012

$ Change

Net sales:
Distribution $ 270,233 $ 252,862 $ 17,371
Aerospace 161,492   147,364   14,128  
Net sales $ 431,725   $ 400,226   $ 31,499  
 
Operating income:
Industrial Distribution $ 13,669 $ 14,166 $ (497 )
Aerospace 28,678 26,158 2,520
Net (loss) gain on sale of assets (21 ) 8 (29 )
Corporate expense (11,309 ) (12,312 ) 1,003  
Operating income $ 31,017   $ 28,020   $ 2,997  
 
 
Diluted earnings per share from continuing operations $ 0.67   $ 0.61   $ 0.06  
 

Neal J. Keating, Chairman, President and Chief Executive Officer, stated, “We achieved strong overall results for the second quarter led by the performance at Aerospace and the sequential improvement in operating profit at Distribution.

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