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Kaman Reports 2013 Third Quarter Results

Kaman Corp. (NYSE:KAMN) today reported financial results for the third quarter ended September 27, 2013.

  Table 1. Summary of Financial Results from continuing operations
 
In thousands except per share amounts For the three months ended

September 27, 2013

 

September 28, 2012

 

$ Change

Net sales:
Distribution $ 272,951 $ 258,282 $ 14,669
Aerospace 150,712   151,285   (573 )
Net sales $ 423,663   $ 409,567   $ 14,096  
 
Operating income:
Industrial Distribution $ 14,675 $ 12,925 $ 1,750
Aerospace 27,638 24,410 3,228
Net (loss) gain on sale of assets (53 ) 53
Corporate expense (10,892 ) (12,419 ) 1,527  
Operating income $ 31,421   $ 24,863   $ 6,558  
 
 
Diluted earnings per share from continuing operations $ 0.68 $ 0.55 $ 0.13
Diluted earnings per share from discontinued operations 0.01 (0.01 )
Diluted earnings per share from disposal of discontinued operations 0.02     0.02  
Diluted earnings per share $ 0.70   $ 0.56   $ 0.14  

Neal J. Keating, Chairman, President and Chief Executive Officer, stated, “Broad based strength across Aerospace and improved profit performance at Distribution led to very strong results for our third quarter.

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